Ecofibre Ltd. (AU:EOF) has released an update.
Ecofibre Ltd. has announced a strategic move to enhance its financial position by entering into a conditional agreement to sell and leaseback two key properties in Greensboro, North Carolina, for USD 10.4 million. This transaction is aimed at reducing the company’s debt and financing risk. The deal involves a seven-year leaseback term for Ecofibre Advanced Technologies Inc, with options to extend, and is subject to due diligence and final lease negotiations.
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