Excite Technology Services secures strategic funding

Excite Technology Services (ASX:EXT) has announced that Belgravia Group, through its related party G & N Lord Superannuation Pty Ltd, has invested an additional $1 million in the company. This investment, made via a convertible note, represents the final tranche under the agreement with Belgravia Group. The funds will be used to support strategic initiatives aimed at enhancing customer acquisition, revenue growth, and profitability.

Summary and strategic outlook

Excite Technology Services has secured a $1 million investment from Belgravia Group through a convertible note, marking the second and final tranche of their agreement. The convertible note carries an interest rate of 10% per annum, with interest capitalised quarterly. The notes can be converted into shares at 1 cent per share, with options available for additional shares. The funds will be used for strategic initiatives to boost customer acquisition, revenue growth, and profitability. Excite Technology Services, specializing in cybersecurity services, aims to strengthen its market position and enhance its offerings. The company's strategy focuses on leveraging this investment to drive growth and improve financial performance.

Executive commentary on investment and strategy

The investment by Belgravia Group, through its related party, marks a significant step forward for Excite Technology Services. The funds will be strategically deployed to enhance our customer acquisition efforts, drive revenue growth, and improve overall profitability. We are committed to leveraging these resources to reinforce our market position in the cybersecurity sector.