03:02 PM EDT, 04/28/2025 (MT Newswires) -- Nu E Power ( NUEPF ) was at last look down 7.6% and nearer 52 week lows on Monday even after saying it had secured a US$6.2 million loan financing agreement of up to US$6.2 million, to be used for acquisitions.

A statement noted that, according to the agreement, Global Green Asset Finance will provide a secured loan of up to US$6.2 million for a one year term with no penalty for early repayment. The secured loan will have an interest rate of 20% payable monthly in arrears. The company shall be required to repay all or a portion of the debt, as applicable, upon the occurrence of certain future prepayment events.

The company said the proceeds from the financing will be used for corporate acquisitions and that it expects the closing in May.

Nu E Power's ( NUEPF ) Chief Executive Officer Devon Sandford said. "The USD 6.2 million facility will allow us to aggressively pursue opportunities and acquisitions that are in our opinion both valuable and accretive to Nu E while limiting dilution."

Price: 0.18, Change: -0.02, Percent Change: -7.69