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ONE CLICK GROUP LIMITED — Capital/Financing Update 2020
Apr 23, 2020
64250_rns_2020-04-23_185f9117-aaf2-4108-85b4-59fdba798437.pdf
Capital/Financing Update
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ASX RELEASE
24 April 2020
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AQUABOTIX APPROVED FOR US GOVERNMENT COVID-19 LOAN
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Aquabotix received approval for a non-dilutive loan under the US Government’s Paycheck Protection Program.
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The value of this loan is approximately US$76,000 (~A$120,000)
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Funding of the loan is expected by 26 April 2020.
UUV Aquabotix Ltd (ASX:UUV) (“Aquabotix" or the “Company”) is pleased to advise that its USbased subsidiary, Aquabotix Technology Corporation (“ATC”), has received approval for an approximately US$76,000 non-dilutive COVID-19 relief loan from the US Government.
ATC received notification of approval for a loan under the Paycheck Protection Program (PPP) administered by the US Government. The PPP is a disaster relief program in the United States providing loans to US-based small businesses for the purposes of paying for payroll, rent, and utilities. These small business loans have a loan forgiveness feature that may enable the foregoing of repayment on a portion of the loan amount.
ATC expects to receive approximately US$76,000 by 26 April 2020. This loan will be unsecured, carry a one percent (1%) interest rate, and have payments deferred for six (6) months with repayment in twenty-four (24) months. It is anticipated that a portion of this loan will be forgiven based primarily on ATC’s payroll paid in the eight weeks subsequent to the loan disbursement.
Authority
This announcement has been authorised for release by the Chief Executive Officer of UUV Aquabotix Ltd.
Further Information
Whitney Million Chief Executive Officer [email protected]
Peter James Winton Willesee Non-Executive Chairman Joint Company Secretary [email protected] [email protected]
ENDS
About UUV Aquabotix Limited
Based in Australia, and Virginia and 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
UUV Aquabotix Ltd ACN 616 062 072 CPC SE 5, 145 Stirling Highway, Nedlands WA 6009
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