"...The Company has also secured a separate drawdown loan of $300,000 AUD from Peak Asset Management, under a new loan agreement. This drawdown facility allows the Borrower to request funds up to the total facility amount. The loan is unsecured and carries an interest rate of 18% per annum, compounding daily and payable in full on the repayment date."
Peak CEO and OPL's second larget shareholder, Niv Dagan, appears to have negotiated a top rate for this novel facility.
Why would OPL agree to pay it? Does it doubt it will receive a flagged licence windfall? Does it doubt it will score robust TrialKey sales? Or does it expect to be able to earn at least 18% from re-deploying drawn-down funds?
Perhaps @Trialkey can clarify.
"...The Company has also secured a separate drawdown loan of...
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