Magnis Energy Technologies Limited (AU:MNS) has released an update.
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Magnis Energy Technologies Ltd has announced amendments to its secured debt agreement, increasing the principal amount from $5.5 million to $6.752 million. This additional funding will help repay unsecured short-term borrowings previously provided by shareholders. The term of the loan has been extended to April 2025, bolstering the company’s financial position in the lithium-ion battery sector.
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