Indonesia, May 5 -- Holista Colltech Limited (ASX: HCT) (Holista or the Company) is pleased to announce that it has entered into a binding Joint Venture Agreement with Swang Chai Chuan Limited (HKEX: 2321) (SCC) for the funding, development and operation of an ovine nano-collagen production facility in Collie, Western Australia.

Key Commercial Terms

The Joint Venture (JV) will operate through Ovicoll Pty Ltd, with an initial ownership structure of 50:50 between Holista and SCC.

SCC will contribute RM5,000,000 (approximately A$1.6 million) to fund commissioning and initial working capital requirements of the JV.

As part of the commercial terms of the JV, Holista will make payments equivalent to 3% per annum on SCC's initial funding con...