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INFOCUS GROUP HOLDINGS LIMITED — Capital/Financing Update 2017
Nov 22, 2017
65103_rns_2017-11-22_ae807cf6-36ce-498c-b609-bc4543c031f0.pdf
Capital/Financing Update
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23 November 2017
Australian Securities Exchange ( ASX ) Level 40, Central Park 152-158 St George's Terrace Perth WA 6000
CONVERTIBLE LOAN
Wangle Technologies Limited ( Wangle or the Company ) ( ASX: WGL ) is pleased to announce that it has entered into a Convertible Loan Agreement ( Loan ) with Golden State Capital, Inc ( Lender ), an unrelated party, for an amount of up to $2 million.
The key agreed terms are summarised in Appendix 1.
The Loan will enable the Company to invest in aggressive brand and customer acquisition strategies for Wangle Family Insites, in preparation for a focus on domestic distribution partnerships and international expansion in 2018.
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For further information, please contact:
Wangle Technologies
Sean Smith MD and CEO p: +618 6489 1600
Wangle Technologies
Loren King Company Secretary p: +618 6489 1600 [email protected]
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ABOUT WANGLE FAMILY INSITES
Wangle Family Insites (WFI) offers parents a unique approach to ensuring the safe use of the internet by children and teenagers. By utilising Wangle’s world class VPN network, backed by the research insights of childhood development research organization Telethon Kids Institute, WFI monitors mobile network patterns in real time and advises parents of potential threats as well as providing greater details and resources to parents on the threats identified.
ABOUT WANGLE TECHNOLOGIES
Wangle Technologies has developed patented algorithms that not only optimise, compress and secure the data flow to mobile devices, but facilitate real time analysis of network patterns and usage behaviours. Wangle’s technology provides compelling value to consumers, service providers and enterprises looking for innovative low-cost solutions for managing network capacity and use.
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APPENDIX 1
| APPENDIX 1 | |
|---|---|
| Facility Limit: | $2,000,000 |
| Minimum Commitment: | $500,000 |
| Number of Draw Down Tranches: | Upto 8 |
| Face Valueper Tranche: | $250,000 |
| Further Draw Down Tranches: | The draw down of Tranches in excess of the Minimum Commitment is subject to the prior consent of the Lender, but otherwiseto be governed by the terms of the Loan Agreement. |
| Commencement Date: | 1 December 2017 |
| Maturity Date: | On or Before 30 April 2018. |
| Coupon: | $12,500per Tranchepayable on Maturity. |
| Security: | In the event $1,000,000 or more is drawn down under the Loan, a general security will be granted over all the Company's present and after-acquiredpersonalproperty. |
| Conversion: | The lower of 15% discount to 5-day VWAP and $0.02 at the election of the Lender, subject to shareholder and regulatory approvals if required. |
| Facilitation Fee: | 2,500,000 Unlisted Options exercisable at $0.025 each on or before 31 August 2018per Tranche drawn down. |
| Right of First Refusal: | The Lender has a right of first refusal over future debt or equity raisings while the Loan remains outstanding. |
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