SportsHero (ASX:SHO) signed a AU$1 million 12-month unsecured loan facility with Colin Jee Fai Low, according to a Thursday Australian bourse filing.
Interest will accrue on the total amount drawn down from the facility at a fixed rate of 10% per annum.
The firm plans to use the funds drawn down from the facility to fund its working capital requirements.
Colin Jee Fai Low had earlier agreed to provide the firm with two loan facilities, and one of these facilities expired.
A loan facility for a total of up to AU$500,000 remains available to the firm and it has drawn down a total of AU$100,000 from it.
The firm's shares fell 5% on market close.
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