December 20, 2017 / 2:09 PM / a month ago

BRIEF-Active Biotech receives waiver from bank commitment, expires on Feb 27

Dec 20 (Reuters) - Active Biotech AB:

* REG-ACTIVE BIOTECH PROVIDES UPDATED INFORMATION ABOUT THE COMPANY‘S FINANCIAL POSITION

* SAYS ‍HAS RECEIVED A WAIVER (EXEMPTION) FROM ITS COMMITMENT TO BANK THAT FINANCES COMPANY‘S PROPERTY IN LUND THAT COMPANY‘S LIQUIDITY SHOULD NEVER FALL BELOW SEK 30 MILLION​

* SAYS ‍THIS EXEMPTION APPLIES UNTIL AND INCLUDING FEBRUARY 27, 2018​

* SAYS ‍EXEMPTION APPLIES UNTIL AND INCLUDING FEBRUARY 27, 2018, DURING WHICH TIME COMPANY MUST PRODUCE A SALE OF PROPERTY AT A VALUE THAT GENERATES A LIQUIDITY SUPPLEMENT THAT MEETS REQUIREMENTS FOR GOING CONCERN​

* SAYS ‍UNLESS THIS OR ANY OTHER SOLUTION IS FOUND BEFORE FEBRUARY 27, 2018, COMPANY WILL NOT HAVE FUNDING FOR COMING TWELVE-MONTH PERIOD​ Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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