QLIFE RAISES LOANS OF UP TO SEK 20 MILLION TO COMPLETE CRP AND PHE PRODUCT DEVELOPMENT AND REGISTRATION
Qlife Holding AB has today entered into loan agreements of up to SEK 20 million to finalize the product development and registration for CRP and PHE during 2022
The loans are granted by Modelio Equity AB and a large private shareholder in Qlife. The loan term runs over six months from June to December 2022. The loans are entered into on market terms of 1.5% monthly interest and an additional 5% set-up fee. The company has the right to repay the loans in advance. If the Company carries out issues during the term of the loans, the Lenders have the right to set off their claim in such issue. If the loan is not repaid as of the maturity date, the Company shall resolve on an issue of new shares with pre-emption rights for the Company’s shareholders, where the Investors shall be given a preferential right to act as guarantors on market terms.
"The loans gives us the opportunity to continue development and required regulatory studies for IVDR approval of our CRP and PHE products, with planned submission within the coming six months," says Thomas, Warthoe, CEO of Qlife.
After the completion of product development and registration submission, Qlife expects to receive CE mark of CRP and PHE for home use during 2023, and will launch the products to both the professional and the home market immediately thereafter.
This disclosure contains information that Qlife Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 28-06-2022 15:37 CET.