ARCTIC BLUE BEVERAGES ENTERS INTO LOANS MATURITY DATE EXTENSION
Arctic Blue Beverages AB (the “Arctic Blue Beverages” or the “Company”) has today entered into loan amendment agreements with shareholders Grizzly Hill Capital Ab and Heino Group Oy to extend the maturity dates of current loan agreements from January 31, 2025, and June 30, 2025, to January 31, 2026. The aggregated unpaid principal balance of these loans amounts to EUR 1,834,078.
The Company has today entered into loan amendment agreements with shareholders Grizzly Hill Capital Ab, controlled by board member Gustaf Björnberg, and Heino Group Oy, controlled by board member Petri Heino (the “Lenders”) to extend maturity dates of current loan agreements from January 31, 2025 and June 30, 2025 to January 31, 2026. The aggregated unpaid principal balance of these loans is EUR 1,834,078. All other terms and conditions regarding the loans remains unchanged. The amendment of the loans is subject to approval at an extraordinary general meeting. A separate notice to an extraordinary general meeting will be disclosed through a separate press release.
The amended loan agreements amount to unpaid principal balance of EUR 1,834,078 with an interest rate per annum of 10 percent and run up until January 31, 2026. The Lenders have the right to, should the Company carry out a share issue before January 31, 2026, and provided that all necessary resolutions have been passed, convert the borrowed amount to shares in the Company. In such case, the subscription price for conversion to shares shall be equal to the applicable subscription price in such share issue.