Brief: Advanced Oncotherapy Says It Needs Financing Urgently To Continue As Going Concern

Advanced Oncotherapy

30/06/2023 07:24

June 30 (Reuters) - Advanced Oncotherapy PLC  AVO.L :
    * ADVANCED ONCOTHERAPY  - UPDATE ON FINANCING, SUSPENSION OF
TRADING ON AIM
    * ADVANCED ONCOTHERAPY PLC - HAS BEEN IN ADVANCED
DISCUSSIONS WITH
A NEW LENDER TO PROVIDE C.£8 MILLION OF ADDITIONAL FUNDING FOR
COMPANY
    * ADVANCED ONCOTHERAPY - NOW IN HIGHLY CONSTRAINED FINANCIAL
POSITION AND REQUIRES ADDITIONAL FINANCING URGENTLY IN ORDER TO
CONTINUE AS A GOING CONCERN
    * ADVANCED ONCOTHERAPY - INFORMED ON 29 JUNE 2023
PROSPECTIVE
LENDER REQUIRES ADDITIONAL PERIOD OF  3 TO 6 MONTHS BEFORE IT
WOULD BE ABLE TO COMMIT
    * ADVANCED ONCOTHERAPY - IN ABSENCE OF ADDITIONAL FINANCING
IN
IMMEDIATE TERM, CO WOULD NEED TO TAKE STEPS TO MAXIMISE VALUE
FOR ITS CREDITORS

Source text for Eikon:  ID:nRSd5278Ea 
Further company coverage:  AVO.L