LOC secures debt facility and convertible note

Locate Technologies (NZX:LOC) has entered into agreements to refinance its PURE Asset Management facility. The Group has drawn A$3.0 million under a new senior secured facility of up to A$3.5 million (36 months, 11% p.a., repayable early without penalty), and the Company will issue a A$1.0 million convertible note (three years, 10% p.a., convertible at NZ$0.15 per share). These proceeds, together with existing cash, will repay PURE in full. Please refer to the attached announcement for further details.