IGEA Pharma N.V. / Key word(s): Miscellaneous
25-March-2021 / 20:56 CET/CEST
Release of an ad hoc announcement pursuant to Art. 18 KR
The issuer is solely responsible for the content of this announcement.
IGEA to finalize on convertible bond facility arrangement
Hoofddorp, the Netherlands, 25 March 2021. IGEA Pharma N.V. (SIX: IGPH) today announced the entry into the final stage of negotiations with an institutional investor, following to a letter of intent (LOI) binding in terms, for a convertible bond facility arrangement over the next 24 months. The closing is expected to be within the first half of April 2021.
Under the terms of the LOI and subject to closing, the investor will commit for up to EUR 10 million over the next 24 months.
The funds are intended to be used to further finance the activities of the combined businesses (with Blue Sky Natural Resources LTD), which mainly includes the final set-up and launch of all production activities on cannabidiol (CBD), terpenes, policosanol, and other extracts from vegetable matrices in the Swiss industrial site within the second half of 2021 as well as the ongoing efforts to establish and strengthen both acceptance and market position for health prevention, pharma, nutraceutical and cosmeceutical solutions.
The Company furthermore intends to continue diversifying and optimizing its current finance structure with the aim of reducing risks and costs. Discussions are ongoing with further institutional investors potentially interested to support the Company in this strategy.
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl
End of ad hoc announcement
|Company:||IGEA Pharma N.V.|
|2123 WT Hoofddorp|
|Phone:||+31 23 568 9494|
|Listed:||Regulated Unofficial Market in Frankfurt; BX Berne eXchange; SIX Swiss Exchange|
|EQS News ID:||1178715|
|End of Announcement||EQS Group News Service|