HITIQ to receive $2m Research and Development finance

We're pleased to advise that we have entered into a non-dilutive funding agreement with Keystonegroup Investments, which will provide early access to $2,000,000 of its forecast FY22 R&D Tax Incentive.

The loan facility provides HITIQ with immediate funds equivalent to the majority of its forecast R&D Tax Incentive for the 10-month period ended 30 April 2022. Draw down of funds is expected within 5 business days of this release.

Repayment is timed to coincide with receipt of HITIQ’s 2022 FY R&D Tax Incentive refund, expected to be prior to 30 September 2022.

“This non-dilutive facility is a prudent option to strengthen our balance sheet amidst recent market volatilities and allows us to continue to progress the commercialisation of our product suite, with potential further contract wins on the near term horizon."

MIKE VEGAR CEO, HITIQ

Keystonegroup Investments is a subsidiary company of Urban Capital Group, who’s team has extensive lending expertise developed over 20 years in private lending, licensed valuation and equity markets.