Digital media company Swish Group (ASX:SWG) has entered into a $5 million financing facility, to be used to fund the expansion of its internet and digital media properties.
The company said it had signed a deal with Furneaux Equities for the credit facility, which can be drawn down in lots of up to $250,000 per 30-trading-day period.
The shares issued in exchange for these funds will be issued at a 10% discount on the daily volume weighted average of Swish Group shares.
“The facility will provide the company with the capacity and flexibility it needs to further expand its growing digital media businesses and demonstrates the improved confidence that is being shown in the technology and digital media sectors,” Swish Group chairman Andrew Plympton said.
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