Eonx Secures Loan Facility to Repay Short Term Facilities and Extend Its Working Capital for International Expansion
TORONTO, ON / ACCESSWIRE / January 7, 2023 / EonX Technologies Inc. (CSE:EONX), (“EonX” or the “Company”) has secured a loan facility for $7,300,000 AUD ($6,730,000 CAD), to be used for working capital and repayment of existing short term bank facility of $5m and loan of $2.3m AUD. This new $7.3m loan facility has been provided on commercial terms by EonX founder and Group CEO, Andrew Kallen, at 12% annual interest for a term of 3 years. If the loan is not repaid it can be convertible into shares of the Company at a price of CAD $0.10 per share during the term of the loan.
EonX is a financial technology company powering the next generation of eWallet, Payments & Loyalty platforms which enable business, consumers and employees to better engage and transact in today’s digital world.
On behalf of the board of directors of
EONX TECHNOLOGIES INC.
Andrew Kallen, CEO
For more information about EonX, contact:
Chief Executive Officer
EONX Technologies Inc.
The CSE does not accept responsibility for the adequacy or accuracy of this news release.
Notice regarding Forward Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company’s filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: EonX Technologies Inc.
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