TORONTO, Feb. 11, 2022 /CNW/ - PopReach Corporation ("PopReach" or the "Company") (TSXV: POPR) (OTCQX: POPRF) is pleased to announce that it has entered into a second amendment to its US$7.5 million senior secured credit facility (the "Facility") with a leading Canadian Schedule I Bank, to extend the maturity of the Facility from the initial two-year term, to a three-year term.
As described in its prior press releases dated September 21, 2020 and October 2, 2020, the Facility provided for an initial three month interest only payment period, to be followed by up to 21 equal monthly instalments of principal (each payment calculated as 1/57th of the advance) plus interest, as applicable, with the final payment of the remaining principal and interest then outstanding due 24 months from the initial drawdown date. The second amendment now provides for up to 33 equal monthly instalments in the same amount, with the remaining principal and interest then outstanding due 36 months from the initial drawdown date.
The Facility otherwise remains unamended, including as to the available amount, the term, applicable interest rates, and ongoing reporting obligations.
About PopReach Corporation
PopReach, a Tier 1 Issuer on the TSX Venture Exchange, with shares also trading on OTCQX® Best Market, is a free-to-play game publisher focused on acquiring and optimizing proven franchises. The Company has to date acquired successful game franchises enjoyed by millions of players, including Smurfs' Village (IP under license), PAYDAY Crime War (IP under license), Peak - Brain Training,Kitchen Scramble, Gardens of Time, City Girl Life, War of Nations and Kingdoms of Camelot. PopReach, headquartered in Toronto, employs a team of over 130 experts in Toronto, Vancouver, London, UK, and Bangalore, India.
Additional information about the Company is available at www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE PopReach Corporation
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