Norwood Extends Loan Facility to Support Growth and Optus Contract Execution

Norwood Systems Limited (ASX: NOR) has executed the eleventh variation of its cash drawdown loan facility with Balmain Resources Pty Ltd, extending the repayment date to 31 August 2025. The loan, initially established in April 2024 to provide working capital, now has a principal balance of $320,498.17 after $550,000 in repayments, with interest at 7.95% and a 1.75% extension fee. The facility has been instrumental in funding operations without equity dilution, enabling Norwood to secure its Optus contract and support growth initiatives. The Board considers the related-party transaction to be on arm’s length terms, with the funding continuing to back Norwood’s strategy of generating sustainable revenue and cash flow through its AI-driven voice communication solutions. CEO Paul Ostergaard credited Balmain’s support for allowing the company to stay focused on executing its growth pipeline and advancing toward FY26 cash-flow-driven expansion.

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