NSX (ASX:NSX) entered into a AU$1.6 million 24-month loan agreement with ISX Financial EU to provide immediate working capital while it engages with investors for additional capital, according to a Tuesday filing with the Australian bourse.
It plans to use the additional capital to progress its growth strategy and business development plans.
The interest rate under the agreement will accrue at the rate of the Reserve Bank of Australia cash rate plus 4% per annum on a pro-rata basis, the filing added.
NSX will repay the loan either via cash or shares or a combination of both. If it decides to repay the loan by an issue of shares as a placement to ISX Financial then shareholder approval and an independent expert report would be required.
ISX Financial EU currently holds 30.4% of the issued capital of NSX.
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