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UrtheCast Corp is a Vancouver-based technology company that serves the geospatial and geo-analytics markets with a variety of products and services. The company operates earth observation (EO) sensors in space, including two satellites, Deimos-1 and Deimos-2, to produce imagery data that is displayed on UrtheCast's cloud-based web platform and distributed directly to partners and customers. The... see more

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Urthecast Corp > For what its worth, Pirmin Lüönd is out...

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Post by BarFly on Oct 16, 2020 11:27pm

For what its worth, Pirmin Lüönd is out...

https://www.sedi.ca/sedi/SVTIIBIviewResults?locale=en_CA

https://www.newswire.ca/news-releases/urthecast-closes-geosys-acquisition-secures-us-12-million-term-loan-and-provides-corporate-update-834710871.html

The indirectly wholly-owned subsidiary of UrtheCast that acquired Geosys (the "Borrower") has entered into a US$12 million term loan (the "Term Loan") with a group of lenders led by Bolzano Investments Limited ("Bolzano") and 1112099 B.C. Ltd. ("1112099"). The Term Loan (i) accrues interest at a rate of 14% per annum; (ii) has a maturity date of one year; and (iii) is secured by all of the Geosys assets owned by the Borrower. The proceeds of the Term Loan will be used as follows: (i) repay existing debt (including, as required by the lenders, the previously issued demand promissory note dated September 28, 2018 issued by UrtheCast in favour of 1112099 in the principal amount of US$5 million (the "Existing Note"); (ii) fund the first installment for the Geosys Acquisition; and (iii) for general corporate purposes.

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