OxPay utilises net proceeds from convertible loan of $1.8m

It has been used for operating expenses, amongst others.

OxPay Financial Limited has fully utilised net proceeds from convertible loan of $1.8m, after deducting the costs and expenses of approximately $161,000.

It has been used for operating expenses, employee remuneration, repayment of existing loan facilities, and directors’ fees.

The company entered into a loan agreement with Oxley Capital Management last 17 January 2025 to which the lender granted up to $2m.

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