X2M Connect Limited (AU:X2M) has released an update.
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X2M Connect Limited, an Australian IoT tech firm, has secured a $1 million convertible loan to expand its operations, including entering new markets in the Middle East and India, and enhancing its renewable energy platform. The funds will fuel business growth, customer support, and maintain ongoing operations, with the company poised to start deployments in the UAE and targeting profitability. The loan terms include an option for conversion to shares, with interest rates and security provisions detailed in the agreement.
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