Ekobot

Company: Ekobot
Listings: First North Sweden
Ticker: EKOBOT
Market cap at time of publication: 7,3 MSEK
Stock price at time of publication: 0,51 SEK
Business: Agtech farming robotics
Website: https://www.ekobot.se/

ESGFIRE comment:

ESGFIRE is positive upon learning that Ekobot  today (15/2 2024) announced the successful securing of a short-term loan amounting to 3.0 million SEK. The loan is a temporary solution to ensure the company's operational continuity until a more long-term solution can be found. Also, the company is anticipating a disbursement of 1.8 million Swedish Kronor from the Swedish Board of Agriculture related to a project the company is concluded in 2023. Once received, the contribution will further support the company's operations in the first quarter of 2024. ESGFIRE is hopeful in the anticipation of a more long-term financing solution to be presented by Ekobot. ESGFIRE views it as very positive that the intention presented is that the secured loan facility of 3.0 million SEK is to hopefully be converted  into binding subscription commitments during the upcoming capitalization process. The loan securement and grant disbursement serve as much welcomed ease on the strained cash flow situation for Ekobot.

The full press release can be found here:
https://mfn.se/a/ekobot/ekobot-secures-short-term-loan

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Group CEO: Filip Erhardt
Email: Filip@esgfire.com
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