Loan Sharks Cut Pieridae Some Slack... not that they have any choice...
TERM LOAN DEFERRED FEE PAYMENT DATE DELAYED
$50.0 Million Payment Now Due January 2022
CALGARY, ALBERTA – October 12, 2021 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) today announced it has reached an agreement with its senior secured lender Third Eye Capital Corporation (“TEC”) to delay payment of the $50.0 million deferred fee owing under Pieridae’s Credit Agreement signed with TEC in October of 2019. The deferred fee was to have been paid by October 16, 2021. The payment deadline has now been extended to the first business day of January 2022.
“I am pleased we have achieved this payment extension and want to thank..." etc.
https://pieridaeenergy.com/news-release/term-loan-deferred-fee-payment-date-delayed