BOURQUE Industries Inc, which is developing carbon metal alloys and related product applications using a patented process called Kryron, announced it has entered into a $7.5 million stock purchase agreement with Ironridge Technology Co, an institutional investor that specialises in direct equity investments in the technology sector.  The company plans to use the proceeds from this investment to fund operational growth, make additional strategic leadership additions, focus sales and marketing channels and work on resolving outstanding liabilities.

Under the terms of the agreement, Bourque Industries will issue Ironridge restricted convertible preferred stock as funds are drawn down monthly.

Kryronised alloys have shown global potential for paradigm-shifting applications across a wide range of industries including ballistic armour, electrical, aviation, automotive, mining, medical devices, agriculture and heavy equipment and consumer electronics.

“We are extremely impressed with the disruptive potential of the Kryon technology, and are grateful for the opportunity to help facilitate the company’s vision to better protect American military, security and law enforcement personnel,” commented John C Kirkland, managing director of Ironridge Global Partners. 

Matthew Schissler, chairman, Bourque Industries, commented: “Let this be a clear message to all of our partners, past, current and future that the Bourque Industries ship is turning.”