Norwood Systems (ASX:NOR) amended its loan agreement with Balmain Resources, raising the principal amount to AU$720,114.21, including interest and fees, according to a Jan. 31 filing with the Australian bourse.
The due date has also been extended to Feb. 14. This is the fifth variation to the agreement, which was secured in April 2024 with an original amount of AU$300,000.
The revised agreement includes an extension fee of 1% of the new principal amount.
Balmain Resources is a company controlled by Norwood Systems director John Tarrant, per the filing.
Norwood Systems' shares were down over 3% in recent trade.
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