Update on Financing Facilities
Sydney, Mar 3, 2016 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor" or "the Company") advises that, having regard to the imminent distribution expected to be received from KIT digital (approximately $750,000 as announced on 1 March 2016), it has elected not to proceed with executing the $1.0 million face value loan facility for which a non-binding Term Sheet had previously been signed.
This will relieve Invigor from an obligation to issue shares as collateral for the loan and from granting options to the lender.
Invigor has also commenced a Share Purchase Plan (SPP) for eligible shareholders to acquire new shares in the Company. The plan closes on 21 March 2016 with proceeds to be released to the Company shortly thereafter.
The loan facility with Marcel Equity Pty Ltd has been increased by $200,000 to $700,000 to support Invigor until the KIT digital and SPP proceeds are received.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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