Hitiq (ASX: $HIQ) Announcement Overview

Hitiq Limited (ASX: $HIQ) has secured a $1.6 million Convertible Note facility with its major shareholder, Harmil Angel Investments, to fund the commercialization of the company's technology platform. Additionally, the company has appointed Henslow and Earl Eddings, former Chair of Cricket Australia, to assist the Board in refining and delivering on the commercialization strategy.

Executive Commentary

The company was delighted to have Harmil strengthen its commitment through the Convertible Note. According to HITIQ Director Philip Carulli, the appointment of Adam McDougall as a major shareholder brings a unique understanding of the commercialization opportunity for HITIQ in the market. The company is excited about the opportunities that lie ahead and the positive results they can achieve together. Additionally, the engagement of corporate advisory firm Henslow and Earl Eddings aims to provide clarity on the business plan and commercial strategy to achieve the company's long-term vision. Henslow and Earl have a proven track record, commercial experience, and an extensive network to help HITIQ become one of the core players in the global concussion management space.

Summary of Announcement

Hitiq Limited (ASX: $HIQ) has secured a $1.6 million Convertible Note facility with its major shareholder, Harmil Angel Investments, to fund the commercialization of the company's technology platform. The funds raised are intended to be utilized for building out production & manufacturing capability, increasing sales & marketing capabilities, accelerating global commercialization efforts, and general working capital. The appointment of corporate advisory firm Henslow and Earl Eddings, former Chair of Cricket Australia, aims to assist the Board in unlocking the inherent value in the company's IP. HITIQ's technology enables data-driven decisions for professional and amateur sports players, empowers clinicians, and enhances concussion management policies for progressive leagues globally. The company's long-term vision involves becoming one of the core players in the global concussion management space.