Dotz Nano (ASX:DTZ) has secured a further AU$460,000 in unsecured loans from existing and new sophisticated investors, increasing the total facility to around AU$1.2 million, according to a Tuesday Australian bourse filing.
The loans have a 24-month term with 12% annual interest paid quarterly, include 8.5 options per AU$1 loaned exercisable at AU$0.055 within two years, and allow conversion into company securities at AU$0.04 any time before maturity, the filing said.
The proceeds will be used to fund general working capital needs, the filing added.