Update on €1 million loan

Hellenic Dynamics PLC

15 November 2024

 

   15 November 2024

Hellenic Dynamics plc

("Hellenic Dynamics" or the "Company")

Update on €1 million loan

London, 15 November 2024, - Hellenic Dynamics plc (LSE: HELD), a medical cannabis cultivator focused on producing medical cannabis flowers for global markets announces that further to the Company's announcement of 7 October 2024, which provided an update on  the receipt of the €1 million loan originally announced on 22 April 2024, the Company confirms that, despite continued reassurances from the lender, the loan has not been received and the directors of the Company have no certainty that the loan will be received, and if received on the timing of such receipt. As such, the Company is now exploring alternative financing options to meet its working capital needs effectively.

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

The Directors of the Company take responsibility for this announcement.

Enquires:

Hellenic Dynamics Plc                                                                        [phone]

Davinder Rai                                                                                         [e-mail]

Cairn Financial Advisers LLP

Emily Staples / Jo Turner                                                                    [phone]

Peterhouse Capital - Brokers

Lucy Williams / Charles Goodfellow                                                 [phone]

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

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