Inabox Group Limited (ASX:IAB)
Managing Director and CEO Damian Kay discusses the company’s new financing agreement and its growth initiatives.
The company has just secured a new financing deal with Commonwealth Bank of Australia (ASX:CBA)
and Mr Kay details the terms of the agreement.
Up to $3 million has been earmarked for future acquisitions and Mr Kay discusses what kind of assets Innabox will be considering in the wholesale and direct Anittel channel.
The company will also have access to a working capital facility of up to $1 million and Mr Kay outlines where these funds will be deployed and how they will consolidate working capital instruments into one facility.
The deal has increased the Anittel finance facility and provided additional finance which Mr Kay describes as a very important part of the CBA deal as it will help to facilitate expansion through funding through.
Mr Kay finishes by detailing how Inabox’s immediate plans align with the company’s long term balanced, organic and acquisitive growth strategy.