FLYHT Aerospace Solutions (TSE:FLY) has released an update.
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FLYHT Aerospace Solutions has secured a $5 million unsecured loan through a debenture with Pinnacle Island II LP to bolster its growth, particularly in its 5G aviation and weather solution product lines. The three-year debenture with a 12% annual interest rate aims to expedite the commercialization of these technologies and support their working capital needs. The funding is also tied to the issuance of 2 million common share purchase warrants, subject to TSX Venture Exchange approval.
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