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DeClout in $10 mil loan agreement secured by 46.8% stake in Procurri

PC Lee Published on Thu, Apr 12, 2018 / 8:03 AM GMT+8

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SINGAPORE (Apr 12): Mainboard technology company DeClout has entered into a $10 million loan agreement with six investors.

The loan are secured by DeClout's entire 46.8% stake or 132 million shares in subsidiary Procurri Corp.

DeClout says the loans would be used for business expansion of subsidiaries Beaqon and vCargo Cloud which are also acting as corporate guarantees for the loan.

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