MTI Investment AB Secures USD 400,000 Loan Agreement and Issues Convertible Debt Note to Chanzi Holdings Limited.
27 augusti, 08:30
Mombasa, Kenya - MTI Investment AB (Nasdaq First North: MTI) has entered into a USD 400,000 loan agreement which enables MTI to issue a convertible debt note to Chanzi Holdings Limited. The loan has no instalments and carries a 7% annual interest, which is only payable upon repayment. As a result, the agreement does not affect MTI's liquidity.
The loan was agreed upon with a holding company that is an existing shareholder of the Company. The principal and accrued interest are only payable at the end of the 36-month term. From the proceeds of the loan MTI Investment participates in the Seed Round for Chanzi Holdings Limited. The convertible debt note to Chanzi Holdings Limited has a 3-year term or converts along with accrued interest in the event of a Series A round being conducted before the end of the term.
"We are incredibly proud to deepen our commitment to Chanzi and their zero-waste mission," says MTI Investment CEO, Anton Dahlberg. "This agreement, which complements our initial convertible note from 2023, is a testament to Chanzi's impressive growth. They are now generating substantial revenue by transforming multiple waste streams into value, including the production of Black Soldier Fly Larvae as protein for the regional feed industry. We are also particularly excited about their strong focus on climate impact, which has now been verified for the generation of carbon credits."
For additional information
Anton Dahlberg, CEO
anton.dahlberg@mti-investment.com
+254 110 371 884 (WhatsApp)
About MTI Investment AB
MTI Investment is an Africa-focused investment company that takes an active ownership role in high-quality small and medium enterprises. We invest in businesses that capitalize on Africa's major growth trends: a rapidly expanding middle class, increasing urbanization, and greater food security. Our purpose-driven approach guides us to invest in companies where financial returns for our shareholders go hand-in-hand with sustainable job creation and long-term economic growth. We operate with two distinct investment strategies: a growth portfolio for building pre-seed stage businesses into profitable ventures and an investment portfolio containing mature, cash-flow-positive companies.
The MTI Investment share (MTI) is traded on the Nasdaq First North Growth Market.
Certified Adviser to MTI Investment is Mangold Fondkommission AB.
Read more on: www.mti-investment.com
Links
MTI Investor RelationsAttached files
PR-Loan-agreement-and-Convertible-Note-Agreement-with-Chanzi.pdfÄmnen i artikeln
MTI Investment AB Secures USD 400,000 Loan Agreement and Issues Convertible Debt Note to Chanzi Holdings Limited.
27 augusti, 08:30
Mombasa, Kenya - MTI Investment AB (Nasdaq First North: MTI) has entered into a USD 400,000 loan agreement which enables MTI to issue a convertible debt note to Chanzi Holdings Limited. The loan has no instalments and carries a 7% annual interest, which is only payable upon repayment. As a result, the agreement does not affect MTI's liquidity.
The loan was agreed upon with a holding company that is an existing shareholder of the Company. The principal and accrued interest are only payable at the end of the 36-month term. From the proceeds of the loan MTI Investment participates in the Seed Round for Chanzi Holdings Limited. The convertible debt note to Chanzi Holdings Limited has a 3-year term or converts along with accrued interest in the event of a Series A round being conducted before the end of the term.
"We are incredibly proud to deepen our commitment to Chanzi and their zero-waste mission," says MTI Investment CEO, Anton Dahlberg. "This agreement, which complements our initial convertible note from 2023, is a testament to Chanzi's impressive growth. They are now generating substantial revenue by transforming multiple waste streams into value, including the production of Black Soldier Fly Larvae as protein for the regional feed industry. We are also particularly excited about their strong focus on climate impact, which has now been verified for the generation of carbon credits."
For additional information
Anton Dahlberg, CEO
anton.dahlberg@mti-investment.com
+254 110 371 884 (WhatsApp)
About MTI Investment AB
MTI Investment is an Africa-focused investment company that takes an active ownership role in high-quality small and medium enterprises. We invest in businesses that capitalize on Africa's major growth trends: a rapidly expanding middle class, increasing urbanization, and greater food security. Our purpose-driven approach guides us to invest in companies where financial returns for our shareholders go hand-in-hand with sustainable job creation and long-term economic growth. We operate with two distinct investment strategies: a growth portfolio for building pre-seed stage businesses into profitable ventures and an investment portfolio containing mature, cash-flow-positive companies.
The MTI Investment share (MTI) is traded on the Nasdaq First North Growth Market.
Certified Adviser to MTI Investment is Mangold Fondkommission AB.
Read more on: www.mti-investment.com
Links
MTI Investor RelationsAttached files
PR-Loan-agreement-and-Convertible-Note-Agreement-with-Chanzi.pdfÄmnen i artikeln
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