MAD
26/11/2014 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS Energy Mad Limited
GENERAL: MAD: $284,000 SuperLife Convertible Note to Fund Growth
Media Release 26 November 2014
$284,000 SuperLife Convertible Note to Fund Growth
Energy Mad is delighted to announce it has secured a $284,000 Convertible
Note facility from SuperLife Limited, in addition to the Convertible Note
facility obtained earlier in the year.
This Convertible Note will allow Energy Mad to support its growth initiatives
for its local and international markets.
The key features of the Convertible Note are:
- It is for a maximum of $284,000.
- The full amount has been drawn down on signing.
- It has a term of three years with an option for Energy Mad to extend it by
one year.
- The interest rate on the amount drawn down is 13.5% p.a. for the initial
three-year period, calculated on a quarterly basis.
- Energy Mad can repay the drawn down amount of the convertible note at any
time prior to the end of the three year term.
- Should SuperLife elect to convert the Convertible Note to ordinary shares
in Energy Mad at the end of the three year term, the conversion will be at
the lower of:
- $0.13 per share; and
- the average Energy Mad share price over the five days prior to conversion
to shares.
ENDS
For More Information Contact:
Chris Mardon, Managing Director
(021) 041 2981
End CA:00258091 For:MAD Type:GENERAL Time:2014-11-26 08:30:06
