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UrtheCast (TSX:UR) on Friday announced that the company has completed the final advance in the principal amount of approximately US$4 million from its US$12 million term loan. As quoted in the press release: Final Advance under US$12 Million Term Loan UrtheCast has completed the final advance (the “Final Advance”) in the principal amount of approximately …
UrtheCast (TSX:UR) on Friday announced that the company has completed the final advance in the principal amount of approximately US$4 million from its US$12 million term loan.
As quoted in the press release:
Final Advance under US$12 Million Term Loan
UrtheCast has completed the final advance (the “Final Advance”) in the principal amount of approximately US$4 million under its US$12 million term loan (the “Term Loan”). The Final Advance was advanced by Bolzano Investments Limited on the same terms and conditions as the initial advance under the Term Loan, and includes approximately US$550,000 of funds contributed by certain UrtheCast directors and executives.
We refer you to our news release dated January 14, 2019 for further details on the terms and conditions and use of proceeds of the Term Loan.
Deferral of Sabadell Loan Repayments
UrtheCast Imaging, S.L.U. (“UrtheCast Imaging”), a wholly-owned subsidiary of UrtheCast, has agreed with Banco de Sabadell S.A. (“Sabadell”), under its €25 million senior secured term loan dated December 11, 2015 (the “Sabadell Loan”), to revise previously negotiated principal repayment amounts and dates as follows: €0.3 million on January 31, 2019, €0.2 million on February 28, 2019, €0.5 million on May 29, 2019 and €1.5 million on July 31, 2019, which revisions will be incorporated through formal amendment to the Sabadell Loan.
Click here for the full text release.