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Conditional funding transaction and CCN extension
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LawFinance has announced that it has reached agreement with Lucerne LCF Pty Ltd to provide an initial US$250,000 and, subject to a number of conditions, a further US$3.05 million (“Remaining Funding”), of funding to certain of LawFinance’s US subsidiaries. Lucerne has entered into a conditional back-to-back agreement with Kenanga Investment Berhad, a Malaysian investment house, in order to provide it with sufficient funds to satisfy its obligations to fund the Remaining Funding under the agreement.