Dotz Nano (ASX:DTZ) has secured around AU$740,000 in unsecured loans from a mix of existing and new sophisticated investors, including the South Israel Bridging Fund (SIBF), according to a Tuesday Australian bourse filing.
The loans have a 24-month term, 12% annual interest paid quarterly, and allow conversion into company securities at AU$0.04 any time before or on maturity, the filing said.
Additionally, the company will issue 8.5 options for every AU$1 loaned, with an exercise price of AU$0.055, expiring two years from the date of issue, per the filing.
Proceeds will be used to support general working capital requirements, the filing added.
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