- Global reference checking and identity verification platform, Xref (XF1), receives $1 million from warrant exercise
- In July of last year the company entered into a four-year $5 million debt facility with PURE Asset Management (PURE)
- As part of the agreement approximately 14.3 million detached unlisted warrants were issued to PURE which now holds around 11.4 million warrants
- PURE exercised the some 2.9 million of their warrant holding at the exercise price of 35 cents
- Shares have been up 4.4 per cent trading at 60 cents
Global reference checking and identity verification platform, Xref (XF1), has received $1 million from the exercise of warrants.
In July of last year the company entered into a four-year $5 million debt facility with PURE Asset Management (PURE).
Additional terms of the initial agreement include a 9.95 per cent per annum interest rate payable every three months and no principle amortisation, repayable at maturity.
Under the agreement approximately 14.3 million detached unlisted warrants were issued to PURE which now holds around 11.4 million warrants.
PURE has exercised 2.9 million of their warrants holding at the exercise price of 35 cents.
Xref CEO and Co-Founder Lee-Martin Seymour says since partnering in 2020 the team at PURE have invested time and energy into supporting the company’s growth.
“They understand our business and our future opportunity and we are delighted to have them become a shareholder”.
“The capital received will further support our investment into growth initiatives as we deliver additional profit and free cash flow.”
Shares were down 4.4 per cent trading at 60 cents at 1.11 pm AEDT.