CLS Holdings PLC

Capital/Financing Update • Oct 24, 2022

National Storage Mechanism | Additional information

RNS Number : 7939D

Glantus Holdings PLC

24 October 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

Glantus Holdings plc

(''Glantus'' or the ''Company'')

Additional Working Capital Facility

Glantus (AIM: GLAN), the provider of Accounts Payable ("AP") automation and analytics solutions, is pleased to announce it has entered into a new additional short term working capital facility.

Further to the details disclosed on 28 September 2022 with the Company's interim accounts, the Company has now successfully concluded negotiations with its current lender, Beach Point Capital, for a €1.5m additional permitted drawdown of the existing Beach Point debt facility until 31 December 2022.

The costs attached to the facility are fixed at 2%, equating to €30,000, plus €5,000 legal fees. This new facility, is expected to be repaid from the Company's cash flow prior to the 2022 year-end.

Costa Rica

As also detailed  in the Company's interim accounts, Glantus has successfully performed a rapid, operational transition in the past four months to relocate its US AP audit function to Costa Rica. The Company is pleased to confirm that  staff at the centre have now been fully trained and have been successfully working on live audits since 1 October 2022. While the centre has only been operational for a short time, the Company is pleased with performance so far.

Enquiries:

Glantus Holdings
Maurice Healy, CEO Grainne McKeown, CFO ir@glantus.com	+ 353 862677800
Shore Capital
Nominated Advisor and Broker Patrick Castle / John More / Tom Knibbs (Corporate Advisory) Andrew Beswick (Corporate Broking)	+ 44 207 408 4090
Yellow Jersey PR
Charles Goodwin Lilian Filips Annabelle Wills	+44 7747 788 221

About Glantus Holdings plc

Glantus Holdings (AIM: GLAN) Glantus is a global provider of accounts payable automation and analytics solutions. Glantus' mission is to harness technology to drive innovation, unlocking efficiencies in AP to maximise working capital for global enterprise organisations. The award-winning Glantus DataShark Platform connects all AP systems and suppliers on one agile platform, eliminating cost and delivering new revenue streams. We work in tandem with our partners to deliver joint enterprise digital transformation solutions. For more information see glantus.com .

Founded in 2014 and headquartered in Dublin, Glantus has offices in the United States, United Kingdom, Poland and Costa Rica, employing over 120 people.

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