Cobalt Blue Holdings Limited (CBBHF) Research and Development Advance Loan Facility and CMAI Instalment Receipt
Cobalt Blue Holdings Limited (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) is pleased to announce that it has secured $700,000 by way of an advance on its forecast Research and Development Tax Incentive (R&DTI) refund for the 2025 financial year (FY25).
The advance will provide additional capital to assist with finalisation of the production flowsheet for the Kwinana Refinery Project.
The advance has been provided under a short-term loan facility with Radium Capital, a leading Research and Development finance provider, and is secured against the Company's R&DTI refund from the ATO for FY25. The advance will accrue interest at 1.44% per month and repayment is timed to coincide with receipt of the Company's 2025 R&D tax refund, expected no later than 31 December 2025. The facility matures on 31 December 2025, and early repayment may be made without penalty. Interest in the event of default will accrue at 1.94% per month.
In addition, COB recently received its latest CMAI grant instalment of $500,000, taking total grant funds received to date to $14.0 million. Together with the proceeds from the short-term loan facility with Radium Capital, these funds bring COB's total cash and equivalents on hand to $2.94 million as at 27 February 2025.
Kelvin Bramley Company Secretary Cobalt Blue Holdings Limited Tel: 02 8287 0660
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