Belluscura PLC (AIM:BELL) told investors it has ended a $1.5 million Loan Note agreement with Omaha Value Inc, after the initial $0.25 million drawdown was not received.
All warrants linked to the facility have been cancelled.
At the same time, in a corporate update, Belluscura said it has granted 15-day exclusivity to an American medical device company, which has signed a non-binding letter of intent, for the potential acquisition of some of the company’s assets.
The potential divestment may include Belluscura’s X-PLOR and DISCOV-R products, its intellectual property, the Shenzhen Belluscura Technology Company Limited subsidiary, and manufacturing and regulatory registrations in the US, China, Hong Kong, and Singapore.
“It is expected that the detailed terms of the proposed purchase will be agreed by the company and the potential acquirer during the exclusivity period,” Belluscura said.
Belluscura noted that ongoing funding talks mean it is not yet able to finalise the 2024 Annual Report and Accounts and as a result trading in the company's shares remains suspended.
The shares were suspended on 1 July, after the 30 June reporting deadline.