Biotricity Inc. (OTCQB: BTCY) announced on December 27, 2024, the completion of a series of financings aimed at bolstering its financial health and reducing execution risk. The company stated it has received the necessary capital to achieve profitability without requiring future financing.
The financing included $811 thousand from promissory and convertible promissory notes, alongside $635 thousand in additional term loan proceeds from its term lender. The term loan lender also capitalized $945 thousand in interest due on the pre-existing term loan.
This capital infusion enabled Biotricity to invest in its largest manufacturing order to date, intended to fulfill anticipated sales orders in calendar year 2025. This strategic inventory investment is expected to augment positive Free Cash Flows and support the goal of full profitability within the next calendar year.
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