Harvest Technology Group funding update

Harvest Technology Group Limited (ASX: $HTG) has announced that Executive Director & CEO, Mr llario Faenza, and Non-Executive Director, Mr Marcus Machin, have agreed to provide the company with short-term, unsecured loans totaling $150,000. The funds from the loans will be utilized for working capital purposes.

Executive commentary on funding update

The loans provided by Mr llario Faenza and Mr Marcus Machin will support the company's immediate working capital needs. The terms of the loans, including the interest rate and repayment terms, have been structured to align with commercial arms' length terms. The company intends to seek shareholder approval at the 2024 Annual General Meeting to convert the loans to Convertible Notes on the same terms as other investors.

Summary of Harvest Technology Group funding update

Harvest Technology Group Limited has secured short-term, unsecured loans totaling $150,000 from its Executive Director & CEO, Mr llario Faenza, and Non-Executive Director, Mr Marcus Machin. The funds will be used for working capital purposes, and the company plans to seek shareholder approval at the 2024 Annual General Meeting to convert the loans to Convertible Notes. This funding will support the company's immediate financial requirements and contribute to its ongoing operations. The announcement reflects the company's proactive approach to managing its capital needs and optimizing its financial position for future growth and development.