• Swift to raise $3.3 million via a partially underwritten entitlement offer
• Funds to be used for Swift Access 2025 development, marketing, and debt reduction
• PURE Asset Management to underwrite $2 million of the offer
• PURE Loan Facility restructured with reduced principal and extended repayment date

Swift Networks Group Ltd is pleased to announce that it is undertaking a partially underwritten non-renounceable pro-rata entitlement offer to raise up to $3.3 million (before costs). The entitlement offer will be made on the basis of one new share for every two shares held by eligible shareholders at an issue price of $0.01 per share. The offer is partially underwritten by PURE Asset Management Pty. Ltd. as trustee for The Income and Growth Fund up to a value of $2 million. The funds raised will be contributed towards the development, marketing, and production costs for the next generation of the Swift Access platform, as well as the partial repayment of the PURE Loan Facility. Swift is entering a new growth phase with the introduction of Swift Access 2025, which features an entirely new user interface and experience combined with the ability to integrate into external apps. The company intends to use the funds to increase market awareness and penetration of Swift Access 2025 in the mining and aged care sectors, further product feature developments, and progressing the development of Swift Access 2026. Funds will also be used to reduce the debt owed under the PURE Loan Facility, with the principal amount owing to be reduced from $7.6 million to $6.2 million. The PURE Loan Facility has also been restructured, with updated covenants, a reduction in the principal amount owing, and the repayment date extended to 31 March 2027. The entitlement offer is expected to close on 22 April 2025, and eligible shareholders will be given the opportunity to apply for any shortfall in excess of their entitlement.

If the entitlement offer is fully subscribed, Swift's net debt is expected to be approximately $3.0 million.