Information About Elementary Small Business Lending Solutions

The company is using approximately $28 million of the initial term loan proceeds to retire existing debt facilities and promissory notes and, subject to payment of expenses related to the transaction, intends to retain the remainder of the initial term loan proceeds, plus any additional amounts borrowed, for general corporate purposes, working capital and the companys strategic priorities. The new credit facility includes terms that greatly diminish cash debt service in the coming periods while the company solidifies its foundation of installed T2 Magnetic Resonance (T2MR) base technology

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