CardieX Limited provided an update as to further progress made in the extension and restructure of its debt facilities and largest creditor. On 24 March 2022, the company entered into a new term loan facility which was secured against future R&D refunds to be received by the Company and its wholly owned subsidiary AtCor Medical Pty Ltd. This facility currently has approximately $595,000 in principal outstanding following reductions in recent periods following the receipt of the fiscal year 2022 R&D tax incentive. The original maturity date of this facility was 31 December 2023.

In conjunction with the finalisation of the restructure of the Company's capital structure MAM have now extended the maturity/expiry date of this facility to 31 March 2024. This will provide the Company ample time to finalise its R&D Tax Incentive registration and lodgement for the 2023 financial year which is anticipated to exceed the value of this facility and provide for repayment of the principal in full. There are no changes to the previously announced interest rates or other payment arrangements of the R&D facility at this time.