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2010-06-30 14:30:00 CEST 2010-06-30 14:30:01 CEST REGULATED INFORMATION GeoSentric Oyj - Company AnnouncementFINANCING ROUND UPDATE, FINANCING AGREEMENTS SIGNED AND FIRST TRANCHE RECEIVEDGEOSENTRIC OYJ STOCK EXCHANGE RELEASE June 30, 2010 at 15:30 FINANCING ROUND UPDATE, FINANCING AGREEMENTS SIGNED AND FIRST TRANCHE RECEIVED As previously informed GeoSentric Oyj has been preparing a new financing round to raise additional financing through the Company's fully owned Dutch subsidiary GeoSolutions Holdings N.V. to secure the working capital needs of the group and to support the execution of the business plan. The Company disclosed its reaching the preliminary agreement with its lead investor on the financing terms on May 31, 2010. The detailed terms were disclosed to the markets on June 9, 2010 when the Company released the call to its Annual General Meeting on June 30, 2010. The Annual General Meeting approved today all the proposals relating to the financing, and the Company has now signed and entered into the definitive financing agreement with the lead investor, enabling the Company to receive financing up to the aggregate of 6M€, of which the first tranche of 2.5M€ is to be raised immediately. Any additional financing is subject to the further conditions agreed between the parties to be met. GeoSentric Oyj For more information, please contact: investors@gypsii.com Distribution: NASDAQ OMX Helsinki Principal news media |
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