Harvest Technology Group Ltd. (AU:HTG) has recently announced that it has secured A$1.2 million through loan note financing, with the possibility of an additional A$200,000 raised before fees. This funding will be used to strengthen the company’s working capital. The 12-month loan terms have been structured to minimize dilution for existing shareholders, offering repayment options in cash or shares and an interest rate of 15%.
In a statement, CEO Ilario Faenza highlighted the significance of this funding in the company’s transformation and growth. He also mentioned that Harvest Technology Group Ltd. is in the process of developing a 3-year strategic plan, which will be shared with stakeholders in the near future. This strategic plan is expected to provide a roadmap for the company’s future activities and growth prospects.
Faenza stated that this funding will enable the company to continue its expansion efforts and invest in new technologies and initiatives that will drive growth and increase revenue. He also emphasized that this funding is a testament to the confidence that investors have in the company’s vision and business model.
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