• HITIQ receives $1M loan from associate of major shareholder
• Loan to be repaid via issue of convertible notes, subject to approvals
• Funds to support HITIQ's working capital and ongoing operations
• Convertible notes to have similar terms as existing notes held by lender

HITIQ Limited (ASX: HIQ) has announced that it has received a $1M loan from No Bull Health Pty Ltd, an associate of Harmil Angel Investments Pty Ltd, a substantial shareholder of the company. An initial $250,000 of the loan has been advanced to provide near-term working capital support. The loan is intended to be repaid by the issue of convertible notes to Harmil, subject to obtaining the necessary shareholder and regulatory approvals. The convertible notes are proposed to have substantially the same terms and conditions as the convertible notes currently held by Harmil. HITIQ intends to convene an extraordinary general meeting of shareholders in the coming months to seek the required approvals for the issue of the convertible notes. The funds received under the loan will be applied towards the company's working capital requirements and ongoing business operations. HITIQ's Executive Chair, Earl Eddings, stated that the additional funding is part of the company's overall capital management plan and was viewed as prudent given the challenging capital markets.