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Drawdown of an Advance Pursuant to Financing Arrangement Between Valoe Corporation and Riverfort

Written by Customer Service on . Posted in Public Companies.

Valoe Corporation                Stock Exchange Release 4 February 2022 at 12.15 Finnish time

                                

Further to the announcement of 30 July 2021, Valoe Corporation (“Valoe”) has completed the drawdown of an advance of EUR 300,000, pursuant to the terms and conditions of the Financing Agreement between Valoe and RiverFort Global Opportunities Pcc Limited (“RiverFort”).

Following the drawdown of the advance Valoe will grant 931,677 warrants to RiverFort. Valoe has settled transaction fees of EUR 27,000 by the transfer of a total of 335,404 treasury shares.

Valoe and RiverFort have separately agreed to reduce the outstanding balance of the Advances withdrawn earlier by approx. EUR 0.1 million including part of the principal and interests of the Advances through RiverFort electing to subscribe for shares in Valoe. The subscription price is EUR 0.08 per share and Valoe transfers 1,509,742 treasury shares to RiverFort.

After the above-mentioned transfers, Valoe will have in total 33,932,940 treasury shares.

In Mikkeli, 4 February 2022

Valoe Corporation

BOARD OF DIRECTORS

For more information:
CEO Iikka Savisalo, Valoe Corporation
Tel. +358 405216082
email: iikka.savisalo@valoe.com

Distribution:
Nasdaq Helsinki Oy
Main media
www.valoe.com

Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe’s head office is located in Mikkeli, Finland.

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