Spotlio AS announced that it has received binding commitments from certain existing shareholders and key management team members in relation to a new debt facility with a total loan amount of approx. $1.7 million. The new debt facility will be structured as a senior secured loan with 12 months maturity, and will be used towards the financing of working capital needs and general corporate purposes.

It can be drawn, at the company's discretion, in three equal tranches over the next 6 months. The interest on the drawn loan amount will accrue at 12% p.a. There are no warrants or other equity-linked instruments attached to the debt facility, as such representing a non-dilutive financing for the company. Furthermore, other terms and conditions of the debt facility are deemed to be in-line with market practice for loans of this type, including standard pre-payment and change of control provisions.

The debt facility will be subject to final board approval (taking into account applicable competence rules) and documentation.