Mooreast seeks alternative funding after missing deposit deadline

Mooreast said SG-RT Fund has failed to disburse the $1m deposit.

Mooreast Holdings is looking for alternative funding after its convertible loan agreement with SG-RT Fund, worth $20m, failed to meet the $1m deposit deadline.

Under the agreement, the deposit of $1m due last 13 August 2024 was extended several times to 31 December 2024 by mutual agreement.

In addition, both have mutually agreed in writing to extend the Long Stop Date to 31 January 2025.

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