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BRIEF-Elixxer Signs Term Sheet For US$12 Mln Institutional Loan

Published 2020-01-22, 02:33 p/m
BRIEF-Elixxer Signs Term Sheet For US$12 Mln Institutional Loan
ELXR
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Jan 22 (Reuters) - Elixxer Ltd ELXR.V :

* ELIXXER SIGNS TERM SHEET FOR US$12 MILLION INSTITUTIONAL LOAN

* ELIXXER LTD - AD ASSET MANAGEMENT WILL HAVE RIGHT TO APPOINT ONE MEMBER TO COMPANY'S BOARD OF DIRECTORS

* ELIXXER LTD - WILL ISSUE UP TO 25 MILLION COMMON SHARE PURCHASE WARRANTS TO AD, PRO RATA TO EACH DRAWDOWN OF LOAN

* ELIXXER LTD - WARRANTS WILL BE EXERCISABLE FOR THREE YEARS FROM DATE OF ISSUANCE AT A PRICE OF $0.10 PER SHARE

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