Electrovaya announces credit facility extension, repayment of promissory note

Electrovaya announced it has amended its loan agreement with its lender. Key amendments include a reduction in the interest rate calculation by 1% and extension of the term by 6 months with an option for a further 6 months under the same terms. The fees for the 6 month extension are 0.5% of the facility and will be paid in shares. Electrovaya has also repaid and closed its C$6M promissory note with the same lender in November.