Great News!!!Access to cash and looks like they are going sell off some assets quick! $6M+ revenue mostly in Sept. Most important the light is on and looking for Q2 sustained commercial production.
Market will respond nicely methinks! Many still feared bankruptcy and that isn't even a consideration here. Well done management!
- Executed debt extension agreements with senior lenders that included the deferral of principal and interest payments for a period of up to two years;
- Received disbursements from new working capital facilities of approximately $5.4 million;
- Commenced purchasing phosphate rock from third parties for use as feedstock in the production of SSP at Itafós thereby optimizing the use of plants at its industrial complex; and
- Commenced discussions with a financial advisor, in collaboration with the senior lenders, to find a definitive solution for the Company's capital constraints, which may include sale of assets or other strategic arrangements.