Realbotix Announces Additional Draw under Bridge Loan from Onconetix
The loan obligations will be cancelled upon merger closing, but termination would trigger 12% annual interest on outstanding principal.
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Bridge loan strengthens Realbotix's working capital position while the parties advance the proposed merger.
“Realbotix and Onconetix are committed to completing their merger transaction. This loan provides for greater commitment and certainty from both sides to complete the transaction,” said Andrew Kiguel, CEO of Realbotix.
The additional draw increases the aggregate amount advanced under the facility from
The facility is an unsecured promissory note from Onconetix, as lender, to Realbotix LLC, as borrower, and is guaranteed by Realbotix Corp. The note is non-interest-bearing and, upon closing of the merger, the note and all obligations under the loan documents will be automatically cancelled and discharged in full, without payment by Realbotix LLC or Realbotix Corp. If the merger agreement is terminated, interest will accrue on the outstanding principal amount at
About Realbotix
Realbotix Corp. is a U.S. based innovator of humanoid robots and embodied AI systems designed for natural human interaction. Manufactured in the United States, Realbotix’s patented technologies enable lifelike facial expressions, fluid movement, vision systems, and advanced social engagement. The Company’s platforms are developed for applications in healthcare, education, service industries, and consumer markets. For more information, visit www.realbotix.ai.
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Forward-Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities laws, including management’s objectives, strategies, beliefs, and intentions. Forward-looking statements are often, but not always, identified by words such as “may,” “will,” “plan,” “expect,” “anticipate,” “estimate,” “intend,” “believe,” or similar expressions referring to future events or results.
These forward-looking statements are based on management’s current opinions and expectations and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such statements.
Readers are cautioned not to place undue reliance on forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
All forward-looking statements are subject to the risks and uncertainties detailed in the Company’s continuous disclosure filings available at www.sedarplus.ca. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Andrew Kiguel, CEO
Contact@realbotix.com
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sales@realbotix.com
Telephone: 647-578-7490
Source: Realbotix Corp.