American Marconi Wireless News - EonX Announces Update To Loan Facility

Under the credit-balance interest arrangement, surplus credit balances accrue interest at a rate of 4% payable by the Lender to the Company. This redraw facility operates at call by the Company of which all balances have subsequently reconciled in full to the benefit of the Company, together with aggregate interest earned totaling AUD $113,495.

The Loan facility was originally entered into on January 6, 2023 between the Lender and EonX Services UK Ltd., a wholly owned subsidiary of the Company, with the Company acting as guarantor. The Loan was established for a principal amount of AUD $7.3 million (approximately CAD $6.7 million), bears interest at 12% per annum calculated daily, and includes a $100,000 establishment fee and a $2,000 monthly line fee. Interest is payable monthly in arrears. The Loan is secured by a general charge over all of the Company's present and after-acquired assets and contains customary default, enforcement, indemnity, and guarantee provisions. Proceeds of the Loan were used to refinance an existing short-term bank facility and an APN Ventures loan, and to provide working capital for international expansion

The Loan includes a conversion feature allowing the Lender, at its sole discretion and at any time prior to maturity, to convert all or part of the outstanding principal and accrued interest into common shares of the Company at a conversion price of CAD $0.10 per share, subject to applicable listing rules and ownership limitations.

On April 25, 2023, the parties amended the Loan to permit it to operate as a redraw facility, allowing principal repayments and subsequent redraws during the term, with interest calculated on the outstanding balance. On October 10, 2024, this redraw feature was further amended to provide that, where the Loan resulted in a credit balance, interest would accrue to the Company's benefit at a rate of 4% per annum.

On June 26, 2025, the Company and the Lender agreed to extend the maturity date of the Loan by 24 months, moving the repayment date from January 6, 2026 to January 6, 2028, with all other terms and conditions remaining unchanged.

Following the execution of the final amendment on December 18, 2025, the redraw functionality and credit-balance interest provisions ceased to apply, and the Loan now continues as a conventional secured loan facility under its original economic and security terms, as extended to January 6, 2028.

The Lender is an officer of the Company and, as a result, the Amendment constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Amendment is exempt from the valuation requirement and the minority shareholder approval requirements of MI 61-101 by virtue of the exemptions contained in sections 5.5(b) and 5.7(a) of MI 61-101, in that the Company is not listed on a specific market and the fair market value derived from the Amendment does not exceed twenty-five percent of the Company's market capitalization.

A copy of the agreement evidencing the Loan, and its subsequent amendments, is available under the profile for the Company on SEDAR+ (www.sedarplus.ca).

About EONX

EonX is a financial technology company powering the next generation of Payments & Loyalty platforms which reward business and customers when engaging and transacting.

On behalf of the board of directors of EONX TECHNOLOGIES INC.

"Andrew Kallen"
President & Group CEO

For more information about EonX please contact:

Andrew Kallen
President & Group CEO
EONX Technologies Inc.

Telephone: +18036767776
Email:[email protected]
Website: www.eonx.com

The CSE does not accept responsibility for the adequacy or accuracy of this news release.

Notice regarding Forward Looking Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: EonX Technologies Inc.

View the original press release on ACCESS Newswire

T.Ward--AMWN