Advanced Human Imaging Ltd. (AU:AHI) has released an update.
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Advanced Health Intelligence Ltd. has secured a total of AUD$4 million through a bridging loan and the settlement of the initial tranche of a placement. The company is directing the newly acquired funds towards its ongoing expansion in the MENA region and Asia, further development of its product offerings, and general corporate purposes. Half of the loan is to be repaid in cash with interest in 6 months, while the other half may convert into shares, pending shareholder approval.
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