Source - RNS
RNS Number : 4430R
ProPhotonix Limited
14 June 2018
 

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain

 

June 14, 2018                                                                                                                                                            

ProPhotonix Limited

 ("ProPhotonix" or "the Company")

 

PROPHOTONIX SECURES £700,000 TERM LOAN

 

ProPhotonix Limited (London Stock Exchange - AIM: PPIX & PPIR, OTC: STKR), a high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, today announces it has entered into a £700,000 four year term loan facility with SQN Secured Income Fund PLC ("SQN"). The loan carries an interest rate of 10% and is repayable in monthly instalments starting in July 2018.  The loan is secured by way of a fixed and floating charge over certain assets of the Group.

 

Ed Dolan, CFO, Commented:

 

"We are pleased to partner with SQN on this loan facility. The funds will assist us in acquiring additional machinery and equipment to continue the expansion of our UV LED manufacturing operations as well as provide working capital toward the growth of the business."

 

 

 

 

Enquiries:

 

ProPhotonix Limited

Tim Losik, President and CEO

 

Tel: +1 603 893 8778

[email protected]

 

 

Cantor Fitzgerald Europe

(Nominated Adviser and Broker)

David Foreman

Richard Salmond

 

Tel: +44 (0)207 894 7000



 

 

 

 

 

About ProPhotonix

 

ProPhotonix Limited, headquartered in Salem, New Hampshire, is a high technology designer and manufacturer of diode-based laser modules and LED systems for industry leading OEMs and medical equipment companies. In addition, the Company distributes premium diodes for Ushio, Osram, QSI, Panasonic, and Sony. The Company serves a wide range of markets including the machine vision, industrial inspection, security, and medical markets. ProPhotonix has offices and subsidiaries in the U.S., Ireland, U.K., and Europe. For more information about ProPhotonix and its innovative products, visit the Company's web site at www.prophotonix.com.


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