Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

ASA Gold and Precious Metals Ltd C.ASA


Primary Symbol: ASA

ASA Gold and Precious Metals Limited is a non-diversified, closed-end investment company. The Company's investment objective is long-term capital appreciation primarily through investing in companies engaged in the exploration for, development of projects or mining of precious metals and minerals. The Company invests approximately 80% of its total assets in common shares or securities convertible into common shares of companies engaged, directly or indirectly, in the exploration, mining or processing of gold, silver, platinum, diamonds or other precious minerals; held as bullion or other direct forms of gold, silver, platinum or other precious minerals; in instruments representing interests in gold, silver, platinum or other precious minerals, and/or in securities of investment companies, including exchange traded funds, or other securities. The Company’s investment adviser is Merk Investments LLC.


NYSE:ASA - Post by User

Post by Betteryear2on Dec 16, 2021 7:09am
148 Views
Post# 34235708

Secures CAD$40 Million Term Loan

Secures CAD$40 Million Term Loan

Non-dilutive debt capital provides Valens with greater flexibility in its growth strategy in Canada and United States

KELOWNA, BCDec. 16, 2021 /PRNewswire/ - The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the "Company" "The Valens Company" or "Valens"), a leading manufacturer of cannabis products, announces that it has entered into a secured non-revolving term loan (the "Loan Agreement") with 2361380 Ontario Limited , a private institutional lender, for an aggregate principal amount up to CAD$40 million (the "Loan"). The Loan will accrue interest at a rate of 10% per annum, payable quarterly, and matures on December 15, 2023 with an initial interest payment date on December 31, 2021. Proceeds from the Loan will further strengthen the Company's balance sheet, allowing it to execute on its corporate strategy and fund working capital needs as the business continues its aggressive growth trajectory, as well as immediately retire the remaining $7.5 million outstanding under its existing debt facility.

Tyler Robson, Chief Executive Officer and Chairman of The Valens Company, stated: "With this strategic secured financing, Valens is now well positioned to accelerate its aggressive growth strategy, further fund its Canadian operations, and capitalize on new growth opportunities as the Company works toward expanding its presence in the United States. This CAD$40 million Term Loan reflects the unique value proposition that Valens has created in the market, as well as the continued confidence from our management, board, and shareholders in the continued execution of our business plan."

Jeff Fallows, President of The Valens Company said: "This is a very attractive cost of capital and a non-dilutive financing solution that provides more financial flexibility, fewer covenants and restrictions and better enables us to aggressively penetrate our target markets and create shareholder value. This transaction, not only funds our current business plan but also strengthens our balance sheet.  As a result, we do not anticipate the need to raise additional equity capital in the near term."

At Valens, it's Personal.

About The Valens Company

The Valens Company is a leading manufacturer of cannabis products with a mission to bring the benefits of cannabis to the world. The Company provides proprietary cannabis processing services, in addition to best-in-class product development, manufacturing, and commercialization of cannabis consumer packaged goods. The Valens Company's high-quality products are formulated for the medical, health and wellness, and recreational consumer segments, and are offered across all cannabis product categories with a focus on quality and innovation. The Company also manufactures, distributes, and sells a wide range of CBD products in the United States through its subsidiary Green Roads, and distributes medicinal cannabis products to Australia through its subsidiary Valens Australia. In partnership with brand houses, consumer packaged goods companies and licensed cannabis producers around the globe, the Company continues to grow its diverse product portfolio in alignment with evolving cannabis consumer preferences in key markets. Through Valens Labs, the Company is setting the standard in cannabis testing and research and development with Canada's only ISO17025 accredited analytical services lab, named The Centre of Excellence in Plant-Based Science by partner and scientific world leader Thermo Fisher Scientific. Discover more on The Valens Company at https://www.thevalenscompany.com

 
<< Previous
Bullboard Posts
Next >>