CardieX Limited

Funding Commitment Agreement Update

CARDIEX Limited (ASX:CDX) (CARDIEX, the Company) provides an update on the Funding Commitment Agreement (FCA) with C2 Ventures Pty Limited (C2V, owned by Directors Niall Cairns and Craig Cooper) as announced on 8 November 2023.


The Company and C2V have entered into a variation of the FCA by increasing the facility limit by $966,434.40 which brings the total facility limit to $8,466,434.40 (with $6,000,000 remaining undrawn), and replacing $7,500,000 as previously announced. This variation and increased investment from C2V, which in effect increases the FCA facility limit by the amount of the C2V underwriting of the Entitlement Offer, ensures that CARDIEX completes the previously announced $14 million fund-raising package.

Shareholder approval will be sought at an upcoming Extraordinary General Meeting of Shareholders, to the extent possible, for the potential conversion to equity on the same pricing and other terms as the recent capital raising of all loans under the FCA, up to the maximum facility limit.

All other key terms of the FCA remain unchanged.


Click here for the full ASX Release

This article includes content from CardieX Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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