Eden Innovations Eyes Debt Reduction with Property Sales

Eden Innovations Ltd (AU:EDE) has released an update.

Eden Innovations Ltd has entered a conditional contract to sell its industrial land in Augusta, Georgia for US$5 million, potentially reducing its subsidiary’s debt by US$4.6 million and cutting loan service costs by 80%. The company also aims to sell another property in Littleton, Colorado, which could enable them to repay their entire debt to iBorrow. These sales are expected to significantly lower Eden’s US subsidiaries’ operating costs.

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