TradeWindow to pursue legal action over nChain's missed payment

TradeWindow has provided an update on its strategic partnership with nChain.

Under the agreement, nChain was supposed to subscribe for 28,236,172 TradeWindow shares, with a cash investment of NZ$2.391 million.

However, due to recent changes in nChain's board and management, the company is unable to make the payment as scheduled.

TradeWindow has engaged legal counsel and intends to pursue available remedies for the breach.

The failure to settle the payment has triggered a review event under TradeWindow's bank facility agreements, and the company will seek a waiver from its financier.

TradeWindow will provide further updates on the matter and will continue to explore other capital raising options.