BR.TO up 28% this morningBig Rock Brewery up 28% after new credit facility announcement.
Only 7 millions outstanding shares!
BIG ROCK BREWERY INC. ANNOUNCES CLOSING OF $4.3MM SECOND LIEN FINANCING & AMENDED SENIOR CREDIT FACILITY AGREEMENT
Canada NewswireDec 5, 2022 9:00 AM EST
Highlights:
- VN Capital and Big Rock have agreed and closed on terms for a $4.3 million second lien financing to provide additional liquidity to the Corporation in the near-term;
- Big Rock and its senior lender, ATB Financial, have also agreed to amended terms under its existing credit agreement;
- Major amendments to the credit agreement include a revised covenant package that places Big Rock in compliance therewith, as well as an agreed-upon structure moving forwards; and
- Big Rock looks forward to continuing its relationship with ATB Financial, and the amended credit agreement will give Big Rock the time it needs to improve its operating results and strengthen its financial health.