GREY:LFDEF - Post by User
Post by
BarFlyon Oct 16, 2020 11:27pm
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Post# 31733531
For what its worth, Pirmin Lüönd is out...
For what its worth, Pirmin Lüönd is out... https://www.sedi.ca/sedi/SVTIIBIviewResults?locale=en_CA https://www.newswire.ca/news-releases/urthecast-closes-geosys-acquisition-secures-us-12-million-term-loan-and-provides-corporate-update-834710871.html The indirectly wholly-owned subsidiary of UrtheCast that acquired Geosys (the "Borrower") has entered into a
US$12 million term loan (the "Term Loan") with a group of lenders led by Bolzano Investments Limited ("Bolzano") and
1112099 B.C. Ltd. ("1112099"). The Term Loan (i) accrues interest at a rate of 14% per annum; (ii) has a maturity date of one year; and (iii) is
secured by all of the Geosys assets owned by the Borrower. The proceeds of the Term Loan will be used as follows: (i) repay existing debt (including, as required by the lenders, the previously issued demand promissory note dated
September 28, 2018 issued by UrtheCast in favour of 1112099 in the principal amount of
US$5 million (the "Existing Note"); (ii) fund the first installment for the Geosys Acquisition; and (iii) for general corporate purposes.