Atlantic Sapphire ASA OSL:ASA:
NEEDS $25-30 MILLION IN ORDER TO HAVE SUFFICIENT HEADROOM TO BE ABLE TO ACHIEVE EBITDA BREAK-EVEN ON ITS PHASE 1 OPERATIONS
IS PROGRESSING DISCUSSIONS WITH LARGEST SHAREHOLDERS, KEY STAKEHOLDERS
IF CO HAS NOT BEEN ABLE TO RESOLVE ITS NEAR-TERM LIQUIDITY REQUIREMENT BY MARCH 31, 2026, IT WILL BE IN TECHNICAL DEFAULT OF CERTAIN OF ITS AGREEMENTS WITH LENDERS
EXTENDED CURRENT CLOSED PERIOD TO FACILITATE THAT CERTAIN KEY SHAREHOLDERS MAY ENTER INTO AGREEMENT REGARDING CO'S FINANCING