Norwood Systems (ASX:NOR) amended its loan agreement with Balmain Resources, raising the principal amount to AU$720,114.21, including interest and fees, according to a Jan. 31 filing with the Australian bourse.
The due date has also been extended to Feb. 14. This is the fifth variation to the agreement, which was secured in April 2024 with an original amount of AU$300,000.
The revised agreement includes an extension fee of 1% of the new principal amount.
Balmain Resources is a company controlled by Norwood Systems director John Tarrant, per the filing.
Norwood Systems' shares were down over 3% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.