Energy Mad has secured a $1.0 million Loan facility from SuperLife, a major shareholder in the Company.
The Loan Facility lets Energy Mad support its growth initiatives in Australia and to provide additional working capital.
The key features of the Loan Facility are:
It is for a maximum of $1.0 million.
It can be drawn down as required by Energy Mad.
It has a term of one year.
It is interest only. The interest rate on the amount drawn down is 15.75% p.a. calculated on a quarterly basis in arrears.
Energy Mad can repay the drawn down amount of the loan facility at any time prior to the end of the loan in multiples of $50,000.
For More Information Contact: Chris Mardon,
(021) 041 2981