Mighty Craft: Secures upsized debt facility of $20m with PURE Asset Management

Mighty Craft Secures upsized debt facility of $20m with PURE Asset Management

• Mighty Craft (MCL) secures a new $20 million debt facility with PURE Asset Management that replaces all previous existing debt facilities which totalled $13.5 million
• This results in a net increase of $6.5 million and will be in place for three years
• MCL Managing Director Mark Haysman said the company has a strong relationship with PURE and thanked them for its ongoing support
• As part of the facility, the company will issue five million detached warrants to PURE at 35 cents a piece and are exercisable up to seven days prior to the repayment date
• Shares in Mighty Craft are up 2.94 per cent, trading at 17.5 cents as of 2:34 pm AEST