The financial package includes RON20 million subordinated loans from its significant shareholder SevenX Ventures and a RON15 million bank loan from Banca Transilvania.
The funds obtained are intended to cover the company’s current operating expenses, including, but not limited to, lease payments, costs related to the repair and maintenance of machinery, payments to suppliers of agricultural inputs (seeds, crop protection products, fertilizers and fuel), salary expenses and other operational costs.
The loan from the shareholder was a requirement for getting the working capital facility from Banca Transilvania, the company said.
(English version by Loredana Fratila-Cristescu)