Brief: Valoe Signs Framework Agreement On Financing Facility

Valoe Oyj

30/07/2021 08:20

July 30 (Reuters) - Valoe Oyj  VALOE.HE :
    * REG-VALOE HAS SIGNED A FRAMEWORK AGREEMENT ON A FINANCING
FACILITY OF UP TO EUR 30,000,000 FOR INCREASING ITS PRODUCTION
CAPACITY AND TO OTHERWISE ACCELERATE ITS GROWTHWITH RIVERFORT
GLOBAL OPPORTUNITIES. VALOE AND RIVERFORT HAVE AGREED ON THE
    * VALOE'S RIGHT TO DRAWDOWN EACH ADVANCE IS SUBJECT TO
CUSTOMARY
CONDITIONS RELATING TO FINANCING ARRANGEMENTS OF THIS NATURE.
    * VALOE'S RIGHT TO DRAWDOWN SECOND ADVANCE IS CONDITIONAL ON
RESTRUCTURING OF VALOE'S CERTAIN EXISTING LOANS.
    * VALOE SHALL PAY RIVERFORT AN IMPLEMENTATION FEE OF 9 % FOR
EACH
DRAWDOWN ADVANCE
    * IS, IN ITS OWN DISCRETION, ENTITLED TO REPAY WITHDRAWN
ADVANCES
EITHER IN CASH OR IN VALOE SHARES.
    * IF VALOE CHOOSES TO REPAY ANY DUE PORTION OF AN ADVANCE IN
VALOE
SHARES, VALOE WILL ISSUE TO RIVERFORT CONVERSION RIGHTS
    * RIVERFORT WILL BE GRANTED WARRANTS TO SUBSCRIBE FOR SUCH
NUMBER
OF SHARES IN VALOE
    * WARRANTS WILL HAVE AN EXERCISE PRICE OF 140 % OF REFERENCE
PRICE
FOR RESPECTIVE ADVANCE

Source text for Eikon:  ID:nGNE2tmM5f 
Further company coverage:  VALOE.HE 

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