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ONE CLICK GROUP LIMITED — Capital/Financing Update 2019
Mar 24, 2019
64250_rns_2019-03-24_a0a3e158-a1ae-40c0-8dd1-8c7487652b98.pdf
Capital/Financing Update
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25 MARCH 2019
ASX RELEASE
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Credit Facility
Sydney, Australia and Fall River, Massachusetts, USA - UUV Aquabotix Ltd (ASX:UUV) (“Aquabotix" or the “Company”) today announces that it has entered into a non-convertible unsecured credit facility agreement (the “Agreement”) with its shareholder Long Hill Capital II, LLC (the “Investor”).
Under the Agreement, the Investor will make up to A$200,000 available to the Company by way of an unsecured credit facility, which can be drawn down by the Company, in its discretion, within the next sixty days. The facility does not attract any fees. The Company elected to put the facility in place in order to provide it with additional working capital, should such working capital be needed.
If the Company elects to drawdown the facility, interest will be payable on the amount outstanding at the rate of 12% per annum, payable in arrears each quarter.
The funding is non-convertible and does not involve an issue of any equity security.
Further Information
Whitney Million Chief Executive Officer Email: [email protected] Tel: +1 508 306 9503
About UUV Aquabotix Limited
Based in Sydney, Australia and Fall River, Massachusetts, USA, Aquabotix is an established underwater robotics company which manufactures and sells commercial and industrial-grade underwater drones for commercial, high-end consumer and military applications. It is also the first company globally that is offering commercially-available swarming underwater drones. Please visit www.aquabotix.com
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