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The latest announcement is out from Elixxer ( ($TSE:ELXR.H) ).
Elixxer Ltd. has announced the issuance of an unsecured promissory grid note for a bridge loan of up to $1,000,000 from a non-arm’s length lender. The loan, which matures on December 31, 2025, carries an interest rate of 24% per annum, increasing to 34% upon default. This transaction, deemed a related party transaction, aims to improve Elixxer’s financial position as the company is experiencing financial difficulty. The issuance is subject to regulatory approvals, and the board of directors, excluding two members with potential conflicts of interest, has approved the loan.
More about Elixxer
Elixxer Ltd. is a Canadian public investment company listed on the TSX Venture Exchange and the US OTC-Pink exchange. The company focuses on investments in Canada and other countries and is actively seeking new high-growth opportunities.
Technical Sentiment Signal: Sell
Current Market Cap: C$11.9M
See more data about ELXR.H stock on TipRanks’ Stock Analysis page.