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Refrac1on May 14, 2018 7:24am
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Update on US$142 Million Credit Facility
Update on US$142 Million Credit Facility
UrtheCast Corp. Update on US$142 Million Credit Facility
Canada NewsWire
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, May 14, 2018 /CNW/ - UrtheCast Corp. (TSX: UR) ("UrtheCast" or the "Company") is pleased to announce that it has substantially finalized the definitive documentation for the credit agreement and related documentation for the previously announced US$142 million senior secured credit facility (the "UrtheDaily Facility") with the senior lenders. UrtheCast has also received confirmation that all funds currently held in escrow pursuant to the previously announced $34 million private placement of subscription receipts, which closed on May 3, 2018, will remain in escrow until applicable release conditions have been satisfied or waived and, in any event, at least until May 15, 2018. Further details on the $34 million private placement were disclosed in UrtheCast's press release of May 3, 2018.
UrtheCast will provide a further update as part of its quarterly earnings release after markets close on May 15, 2018 and live conference call at 4:30 p.m. ET (1:30 p.m. PT).
The live conference call on May 15, 2018 will be available by calling toll-free at 1-800-952-5114, or by toll call at 1-416-641-6104. The participant pass code is 7107762#. An archived version of the conference call will be made available on the Company's investor website (investors.urthecast.com) following the live conference call.