EonX Announces Update To Loan Facility

Executive Summary

• EonX Technologies Inc. executed a final amendment to its secured loan facility with Chief Executive Director Andrew Kallen, converting the loan back to a standard drawn‑down structure and terminating redraw and credit‑balance interest features.
• The amendment extends the loan’s maturity to 6 January 2028 and retains the original economic terms (AUD 7.3 million principal, 12% annual interest, $100k establishment fee, $2k monthly line fee).
• The loan includes a conversion right for the Lender to exchange outstanding principal and accrued interest into common shares at CAD 0.10 per share; the amendment is a related‑party transaction exempt from minority‑shareholder approval under MI 61‑101.

Key Details

• Original Loan (Jan 6 2023): AUD 7.3 million (~CAD 6.7 M), 12% per annum interest calculated daily, $100,000 establishment fee, $2,000 monthly line fee; secured by a general charge over all assets.
• Use of Proceeds (originally): Refinance short‑term bank facility and APN Ventures loan; provide working capital for international expansion.
• Amendment Highlights (Dec 18 2025):
• Redraw functionality and credit‑balance interest (4% payable to Company) terminated.
• Loan reverts to conventional secured loan with original repayment basis; interest continues at contractual rate, payable monthly in arrears.
• Maturity extended by 24 months to 6 January 2028; all other terms unchanged.
• Conversion Feature: Lender may, at its discretion and any time before maturity, convert any or all of the outstanding principal plus accrued interest into EonX common shares at CAD 0.10 per share, subject to listing rules and ownership limits.
• Related‑Party Transaction: The amendment is a related‑party transaction under MI 61‑101; exempt from valuation and minority‑shareholder approval because (i) the Company is not listed on a specific market and (ii) fair‑market value of the amendment does not exceed 25% of market capitalization.
• Interest Earned to Date: Under prior credit‑balance arrangement, surplus balances accrued AUD 113,495 interest payable by Lender to Company.
• Documentation: Loan agreement and amendments are available on SEDAR+ (www.sedarplus.ca).

Notable Quotes

“The final amendment reflects EonX’s transition to positive operating cash flow and provides a clearer, more conventional financing structure as we continue our international expansion.” – Andrew Kallen, President & Group CEO.