Small caps round-up: Parallel Media, Paragon Entertainment, TyraTech

TyraTech, a natural life sciences company, has received a 0.5m dollar advance payment for a prospective new alliance with an unnamed agricultural products company located in the US. The firm said it is in advanced discussions with this prospective partner relating to a strategic partnership to further expand TyraTech's products and markets. The company now plans to finalise the partnership agreement and make a further announcement in the near future.

Paragon Entertainment, an AIM-listed attractions design, production, fit-out business, has formed a licensing agreement with Hasbro International, under which it will build and operate a series of NERF branded attractions in the UK. The NERF brand has been owned by Hasbro since 1991. The attractions will consist of purpose-built Nerf action arenas and Nerf blaster target ranges, with additional concepts in development.

Parallel Media, an AIM quoted sports marketing, entertainment and digital media agency, has acquired HW Alpha's 50% interest in Parallel Smart Media Asia Alpha Entertainment, for a nominal sum and the grant to HW Alpha of an 18-month option to subscribe for 900,000 ordinary shares in Parallel at 35p a share. "We anticipate that this restructuring will be of significant benefit to the company's shareholders as we look to develop our K-pop business," Parallel's Chairman said.

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