(MENAFN- ProactiveInvestors - N.America) Pallet and logistics firm Axios Mobile Assets Corp (CVE:AXA, OTCQB:AXBSF) has secured a $3mln debt financing to continue to develop the business.
The debenture offering bears interest at a rate of 9.5% per year, payable quarterly in arrears, and matures on July 22 in 2019.
Only interest is payable for the first 18 months and thereafter payments of principal and interest will be made.
The debt is subject to a four-month hold period that expires on November 23 this year.
Proceeds will be used to grow the company's inventory of pallets, for working capital as the company continues to expand and roll out its pallet solution to new customers.
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