Eevia Health Plc secured a short-term loan of NOK 2 million
To timely secure raw materials for its recent order intake of large quantities of bilberry products, Eevia Health Plc ("Eevia" or "The Company") has secured a short-term loan of NOK 2 million from its largest shareholder, Betulum AS (Norway).
Eevia has a great demand for its bilberry extracts and needs to competitively secure sufficient volumes of high-quality berries in a timely and cost-efficient manner for contracted bilberry sales orders. These sales orders will enter production in December and January. It is necessary to procure the berries now rather than in 1-2 weeks when the funds from a current preferential rights issue will be available.
Eevia has therefore entered into an agreement whereby Betulum AS will provide a bridge loan of NOK 2 million for a short period between today’s date and the time of funds being made available to the Company from the ongoing rights issue, estimated in approximately two weeks.
Betulum has offered the short-term loan at more attractive terms than other internal and external investors. Interest is charged at one point five (1.5) percent per month (subject to a minimum of NOK 30 000) and a one (1) percent arrangement fee. The short-term loan will be repaid immediately following funds being made available to the Company from the ongoing rights issue, and at the latest, on 20th December 2022.
For further information, please contact:
Stein Ulve, CEO, Eevia Health Plc
Email: stein.ulve@eeviahealth.com
Telephone: +358 400 22 5967
This information is such that Eevia Health Plc is required to make it public in accordance with the EU's Market Abuse Regulation (MAR). The information was made public by the Company's contact person above on November 18th, 2022, at 07:10 CET.
INFORMATION ABOUT EEVIA HEALTH PLC
Eevia Health Plc, founded in March 2017, addresses significant health problems with bioactive compounds extracted from plant materials. The materials are primarily wild harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B as ingredients to dietary supplements and food brands globally. These global brands utilize the ingredients in their consumer product formulas.
Eevia Health is a manufacturer of 100% organically certified plant extracts. Although a significant product, Elderberry extract, is made from cultivated berries, most of Eevia’s other raw materials, such as bilberry, lingonberry, chaga-mushroom, and pine bark, are wild-harvested in a sustainable fashion.
Eevia Health operates a modern green-chemistry production facility in Finland. Manufacturing natural ingredients near the raw material harvest areas, Eevia offers a short value chain with an environmentally friendly carbon footprint, competitive pricing, and extreme transparency. Eevia listed its shares at Spotlight Stock Market in Sweden in June 2021, with the short name EEVIA.
To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn @EeviaHealth.