Loan Facility Secured to Mass Produce Ballistic Helmets

“This CBA loan facility represents non-dilutive funding and is a step in optimising XTEK’s capital structure. The funds will be used to design, build and install new state-of-the-art equipment into the ballistic helmet manufacturing line in the Adelaide manufacturing facility. This upgrade enhances our helmet manufacturing capabilities and ensures XTEK is well positioned to deliver on large quantities of our rifle ballistic helmets into the world’s biggest markets. This helmet uniquely protects against AK47 rounds using an ultra-light Polyethylene (PE) material. Significant progress has been made with international customers recently, and we are working towards finalising the first helmet order in the near term. We look forward to accelerating our commercialisation strategy and further showcasing our advanced manufacturing capability.”