Update on receipt of €1 million loan

Hellenic Dynamics PLC

21 August 2024

 

21 August 2024

Hellenic Dynamics Plc

("Hellenic" or the "Company")

Update on receipt of €1 million loan

Further to the Company's announcement of 1 August 2024, Hellenic Dynamics plc (LSE: HELD), a medical cannabis cultivator with a dedicated focus on producing tetrahydrocannabinol ("THC") dominant strains of medical cannabis flowers for the fast-growing global medical cannabis markets, operating a 40,000 square meter cultivation licence from its 195,506 square meter facility in Northern Greece, announces that receipt of the €1 million loan referred to therein, has been further delayed due to procedural matters relating a change in bank accounts by the lender. The Company remains in conversations with the lender and will update the market in regard to the timing of the receipt of funds as soon as it is in a position to do so.

The information contained within this announcement is deemed to constitute inside information as stipulated under Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) . Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The Directors of the Company accept responsibility for the content of 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.

 

END