Sign up Australia
Proactive Investors - Run By Investors For Investors

Wangle Technologies does deal for $2 million loan

Shares are trading up 17% in the morning trading session to $0.02.
Wangle Family Insites app shown on device screens
The company's app is available on the Apple Store and Google Play Store

Wangle Technologies Ltd (ASX:WGL) has entered into a convertible loan agreement for an amount of up to $2 million.

The loan will enable the Wangle to invest in aggressive brand and customer acquisition strategies for Wangle Family Insites, its recently released family protection software suite.

This will then prepare the company for a focus on domestic distribution partnerships and international expansion in 2018.

The loan is with Golden State Capital, Inc, an unrelated party and the loan facility commences on 1 December, 2017 and will last until 30 April 2018.

READ: Wangle Technologies’ shares rise following Android release of family protection software

The convertible loan facility has a limit of $2 million and a minimum commitment of $500,000.

Wangle is required to pay a coupon of $12,500 per $250,000 tranche drawn from the facility upon maturity.

Should the lender elect to convert the loan to equity, shares will convert at the lower of a 15% discount to 5-day volume weighted average price (VWAP) or  $0.02.

Wangle Family Insites monitors children's internet access

Wangle Family Insites (WFI) is a family protection software suite that is now available via the Apple and Android App stores.

It is available on a monthly or annual family subscription and will initially target Australia’s six million families before a planned international expansion.

The WFI product suite is able to analyse children’s internet access in real time and also send parents notifications in real time to help manage cyber threats.

Cyber threats include gaming addiction, cyberbullying, pornography and online predators.

View full profile View Profile


No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use