Evome Medical Technologies Inc V.EVMT

New Press Release - Evome Strengthens Major Creditor Relationship After the Sale of the Simbex Unit to Riddell, LOI Related to Simbex Acquisition Debt is Cancelled

NEW YORK, April 12, 2024 (GLOBE NEWSWIRE) -- Evome Medical Technologies Inc (the “Company” or “Evome”) highlighted the strengthening credit relationship with Pathward, N.A. (“Pathward”), the Company’s senior lender. As the Company works to sell non-core business units to reduce acquisition debt...read article.

[Zibo510]

Now that this deal is concluded, EVMT has reduced debt by C4.8 million which they were carrying @ 10% per annum, which should result in a saving of approximately C480,000 per annum. In exchange for the extensions, the Company intends to grant the Simbex sellers (i) a subordinated security interest in all non-Biodex assets, (ii) a 10% annual interest rate on the amount due from April 14, 2023 to

[BigJake]

Wouldn't you think the market would view this as positive 

[Zibo510]

Every NR in the last 6 months has been positive, all good news, management has executed on everything they said they would do up to this point.  This company is in the best shape they have ever been in.  Although the SP has moved up recently, it by no means reflects what has been accomplished.  IMO it's just a matter of time before shareholders are rewarded for investing here