YNG Corp secures $30 mil capital commitment, but subject to approval

SINGAPORE (Mar 19): YuuZoo Networks Group (YNG) has secured access to a $30 million funding facility from Swiss-based Asia Financial Group (AFG).

YNG will be allowed to draw down funds during the three-year term of the agreement by issuing ordinary shares to AFG at a price per share which represents a 7.5% discount on the closing price of YNG shares on the date such drawdown is requested by YNG.

The funding facility is subject to approvals by the Singapore Exchange (SGX) and its shareholders at an EGM.

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