News
Trius Investments amends Revive promissory note
2020-10-19 07:21 ET - News Release
Mr. Joel Freudman reports
TRIUS LOAN TO REVIVE SUPERFOODS TO BE PARTIALLY REPAID EARLY
Trius Investments Inc. has entered into an amendment to the secured promissory note advanced to Revive Organics Inc. as previously announced on March 20, 2020.
Pursuant to the Amendment, Revive Superfoods shall repay not less than $500,000 of the outstanding principal amount of the Loan to Trius early, in five equal monthly installments beginning in November 2020. In addition, certain contingent one-time payments contemplated in the Loan have been waived by Trius.
Trius President and CEO Joel Freudman commented: "We've been very pleased as a lender and partner to Revive Superfoods, and couldn't have hoped for a better company to lend to {ҩ –} all interest payments have been made promptly, their management team keeps us in the loop with financial disclosure and general operational updates, and commercially their business has taken off this year. We're glad to remain their primary lender while the rest of the Loan remains outstanding until March 20, 2021, and meantime, we'll evaluate how best to redeploy these early repayments into other promising opportunities, including our burgeoning Newfoundland Gold Exploration portfolio segment."
Revive Superfoods operates in the dynamic ready-to-eat meals industry, and has generated rapidly growing revenues while expanding its offerings across North America. Revive Superfoods offers a subscription service that delivers ready-to-blend smoothies and other healthy prepared meals right to consumers' doors, with operations in Canada and the United States. Revive Superfoods' website is accessible at https://revivesuperfoods.com/ .
Revive Superfoods CEO Yousuf Soliman added: "The Loan from Trius has really helped us scale up our business this year, and as we continue to drive strong sales and cashflow growth, we decided it would be prudent capital management for us to start repaying the Loan balance before maturity."
About Trius Investments Inc.
Trius seeks unique value-creation opportunities, currently increasing its exposure to the precious metals sector by assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. Trius' common shares trade on the TSXV under the symbol "TRU".
Trius is a portfolio company of Resurgent Capital Corp. ("Resurgent"), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.