Simris Group AB (publ) (“Simris Group” or the “Company”) today announces that the board of directors has resolved to enter into a bridge loan agreement with Osiris International Trustees Limited as Trustee of Mountain High Trust for a loan facility of EUR 200,000 to provide further bridge financing to the Company.
The Company has entered into a bridge loan agreement with Osiris International Trustees Limited as Trustee of Mountain High Trust (the “Bridge Loan”). The Bridge Loan amounts to a total of EUR 200,000.
The Bridge Loan accrues interest at a monthly interest rate of one (1.0) per cent per month on the drawdown amount. The Bridge Loan has a maturity date of 25 November 2026, or earlier in the event of an equity issuance by Simris Group. Simris Group may repay the Bridge Loan at any time before the maturity date without incurring any penalty.