Trellus Health's US subsidiary enters unsecured loan agreement

(Sharecast News) - Trellus Health said on Friday that its US subsidiary had entered into a $260,000 unsecured loan agreement with Mount Sinai Health System, extending the group's cash runway to 31 July. The AIM-traded healthcare technology company said it had engaged corporate restructuring advisers and was continuing discussions with relevant parties over strategic options and further funding, including a possible sale of Trellus Health Inc.

It said there was no certainty that additional funding would be secured or that any transaction would be completed.

The loan carries interest at 8% from 19 December and is repayable on 19 June 2027 or 90 days after the completion of any sale of Trellus Health Inc, whichever is earlier.

Trellus shares remained suspended from trading on AIM pending clarification of its financial position.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate