GREY:LFDEF - Post by User
Comment by
onxy10122012on Mar 31, 2020 4:49pm
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Post# 30865898
RE:RE:SADI 1.4 Million payment
RE:RE:SADI 1.4 Million payment i) Compliance with SADI Funding Agreement
In connection with some of its financing requirements, the Company was required to reduce and subsequently terminate its existing revolving demand credit facility with RBC (Note 14(b)) after December 31, 2018 and therefore is no longer in compliance with the terms of the SADI funding agreement described in Note 11(b). While the Company has not received default notice from SADI, management is currently seeking an amendment to the terms of the SADI funding agreement and/or a waiver of this requirement from the Government of Canada. While the Company expects to resolve this matter in a timely fashion and on favourable terms, in particular