Ecofibre Ltd. (AU:EOF) has released an update.
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Ecofibre Ltd., a diverse manufacturing and technology company, has announced the cancellation of a $10.4 million property sale and the extension of their $10 million property-backed term loan to January 2025. The debt restructuring, aided by Chiron Financial LLC, aims to establish positive cashflows and reduce financial risk. The revised terms of the loan maintain the original amount and interest rate, with an additional fee or increased interest, and extended security over three properties.
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