March 2, 2018 / 6:17 AM / 3 months ago

BRIEF-Visual Intl Receives Second Drawdown Under Milost Funding Deal

March 2 (Reuters) - VISUAL INTERNATIONAL HOLDINGS LTD :

* OF SECOND DRAW DOWN IN RELATION TO FUNDING AGREEMENT BETWEEN VISUAL AND MILOST GLOBAL INC​

* ‍ISSUED A SECOND DRAW DOWN NOTICE IN NOVEMBER 2017 FOR R2 MILLION UNDER EQUITY FACILITY SIGNED WITH MILOST​

* ‍PROCEEDS OF SECOND DRAW DOWN RECEIVED IN FULL ON 27 FEBRUARY 2018 AND WILL BE USED FOR VISUAL’S WORKING CAPITAL​

* ‍TRANSACTION WAS FACILITATED AND ARRANGED ON BEHALF OF VISUAL BY PALEWATER ADVISORY GROUP INC​

* ‍DETAILS REGARDING ISSUE OF VISUAL SHARES TO MILOST IN RESPECT OF SECOND EQUITY DRAW DOWN WILL BE ANNOUNCED AS SOON AS POSSIBLE​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below