While crowdfunding, or getting multiple investors, seems like another potential solution, Jeff said due to the way NSW laws regarding firearms businesses were written, every investor was potentially considered a “Dealer’s Associate” and required to pass the associated background and probity checks, even if their investment was a modest one.
“NSW regulatory challenges virtually prohibit multiple investors or crowd funding means of raising capital,” he said.
Jeff said Oceania Precision was keen to establish itself in the defence industry, which would be possible with the appropriate investment.
“Innovation has been our strength with securing patents and design protection on key components,” he said. “We hope to leverage this innovation into the defence sector.
“Trialling of our new IRL (inclined radial locking) bolt design in the automatic M4 rifle family continues to impress, with more in-depth third-party testing to be completed next year.
“After compilation of results and qualification we will be offering a battle rifle in both 5.56mm and 7.62mm NATO for law enforcement and defence, based around our enhanced bolt design.
“I’m also excited to be releasing our NSW-approved compliant rifles in .223 and .308 next year, along with others that have been in development.”
While acknowledging the six-figure investment needed to help Oceania realise its potential was a large one, Jeff believed it would prove worthwhile.
“It is a significant investment in new equipment, but the demand is there and with our strength in innovation we are aiming to be a competitor in the global market,” he said.
“Please reach out via email ([email protected]) for further information if this is of interest to you.”
Source link : https://sportingshooter.com.au/news/expanding-aussie-gun-maker-oceania-precision-looking-for-investors/
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Publish date : 2024-07-11 19:28:00
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