RE:ZENABIS - EXTENDING CREDIT FACILITY SEDAR 1 MARCH 21Quietinvestor wrote: Why would a company about to be bought extend a credit facility???? Is the deal off????
Zenabis Announces Commitment Extension re Revolving Credit Facility VANCOUVER, BC, March 1, 2021 /CNW/ - Zenabis Global Inc. (TSX: ZENA)
("Zenabis" or the "Company") announced today that it has entered into an amending agreement (the "Amending Agreement") in respect of its January 21, 2021 credit agreement (the "Credit Agreement") with a Canadian private debt fund (the "Agent"), as agent on behalf of certain lenders, in respect of a committed revolving credit facility in a principal amount of up to $60 million, subject to satisfaction of the applicable conditions precedent and subject to borrowing base requirements based on eligible receivables, inventory and real estate, with a maturity date of January 21, 2022 (the "Facility"). The details of the Facility are as announced by the Company on January 22, 2021, except for the following changes: (a) the period that the Company has to satisfy the conditions precedent to the initial draw under the Facility has been extended to June 30, 2021 (or such later date as the parties may agree); (b) the requirement for the Company to issue 5,972,873 Zenabis common shares as a partial commitment fee has been replaced by the Company agreeing to increase the cash commitment fee; and (d) the termination fee, which is payable if the Company terminates the Credit Agreement, has been changed from 2% of the total commitment under the Credit Agreement to a descending monthly sliding scale ranging from 4% to 0%. There can be no assurance, however, that Zenabis will be able to satisfy all of the conditions precedent to the initial draw under the Facility and be able to access and draw down all or any amounts under the Facility prior to June 30, 2021 (or such later date as the parties may agree). Echelon Capital Markets is acting as exclusive financial advisor in the arrangement of this credit
Surprised it was not mentioned here. This could be why the SP of ZENA continues to drop.
I wonder?????????????
Your problem is you are a proven liar, so it is safe to assume there is someting wrong with EVERYTHING you post.
Get used to it.