• TALi granted $500,000 non-dilutive Research and Development (R&D) funding facility with Invest Victoria
• Facility relates to FY2022 R&D and is in addition to R&D rebate received for the FY2021 period
• Enhances cash position and enables TALi to accelerate near-term commercialisation milestones
TALi Digital Ltd (ASX: TD1, “TALi” or “the Company”), a leading global digital health business advises that it has executed a $500,000 non-dilutive funding facility (Facility) with Treasury Corporation of Victoria (TCV) as part of the Victorian Government’s R&D Cash Flow Loan Initiative (Initiative).
The Facility will be received in two tranches: the first of $300,000 has been received; and the second of up to A$203,744 in the quarter ending 31 March 2022. The funds will be used on commercialisation activities including those activities that support the agreement between Akili Interactive Labs Inc. (“Akili”) and TALi (full ASX release here). The agreement with Akili has significant expected milestone payments to TALi attached to it and delivery of milestones ahead of schedule would expedite revenues to TALi from the agreement.
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