Seed Innovations Ltd - Guernsey-based wellness and life sciences company - Provides a EUR250,000 term loan to portfolio company Fralis LLC which trades as Leap Gaming. Fralis is an Israel-based developer of 3D gaming applications. Companies agree the loan will be drawn down in tranches. Seed explains that the loan will be used for working capital purposes as Fralis advances towards a liquidity events through an initial public offer or reverse takeover transaction. These are anticipated in late 2022, it adds.
Current stock price: 5.40 pence
12-month change: down 31%
By Heather Rydings; heatherrydings@alliancenews.com
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Seed Innov (SEED)