Leclanché draws down a third tranche of CHF 910,000* from the Convertible Loan Facility of up to CHF 39 Million with Yorkville Advisors
• Initial CHF 2.9 million tranche under the Convertible Loan Facility with Yorkville Advisors was drawn down in February 2020 and second tranche of CHF 720,000 in June 2020.
• Third CHF 910,000 tranche will be used to fund Company operations and expansion.
YVERDON-LES-BAINS, Switzerland and MOUNTAINSIDE, N.J., 25th August, 2020 – Leclanché SA (SIX: LECN), one of the world’s leading energy storage companies, has drawn down the third tranche of the up to CHF 39 million convertible loan facility signed in February 2020 with Yorkville Advisors Global, LP, a US New Jersey-based investment firm offering debt and equity financing to global, small and micro-cap companies. This third proceed will be used for Company operations and expansion.
Anil Srivastava, Chief Executive Officer of Leclanché, said: “We thank Yorkville Advisors for their continuous support and their trust in Leclanché. This third drawdown confirms the willingness to build a long-term relationship between Yorkville Advisors and Leclanché. This additional funding, will continue to support the implementation of our high-growth business plan.”
For more information, write to [email protected] or visit www.leclanche.com.
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