GREY:NEVDQ - Post by User
Post by
patchhon Nov 10, 2021 8:10pm
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Post# 34112890
“Amended Credit Facility”
“Amended Credit Facility”Net proceeds raised in the Offering will replace the new tranche of up to US$41 million that was contemplated by the non-binding term sheet, which will be a significant improvement to the Company’s balance sheet.
“Amended Credit Facility”
The net proceeds from the Private Placement will be utilized to retire and prepay an equivalent portion of the existing loans outstanding under the promissory note issued by the Company to Pala on June 10, 2021, as amended and restated (the “June Promissory Note”)
The Private Placement is conditional on the closing of the Offering.
Each Unit will consist of one common share of the Company (each a “Common Share”) and one-half of one common share purchase warrant (each full warrant, a “Warrant” and collectively the “Warrants”).