Loan agreement

Burcon Announces Execution of $10 Million Loan Agreement

Retrieved on: 
Tuesday, June 21, 2022
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Vancouver, British Columbia--(Newsfile Corp. - June 21, 2022) - Burcon NutraScience Corporation (TSX: BU) (NASDAQ: BRCN) ("Burcon" or the "Company"), a global technology leader in the development of plant-based proteins for foods and beverages, announced today that it has entered into a loan agreement (the "Loan Agreement") pursuant to which Large Scale Investments Limited (the "Lender"), a wholly-owned subsidiary of Firewood Elite Limited ("Firewood"), will provide Burcon with a secured loan (the "Loan") of up to $10 million (the "Loan Amount").

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - June 21, 2022) - Burcon NutraScience Corporation (TSX: BU) (NASDAQ: BRCN) ("Burcon" or the "Company"), a global technology leader in the development of plant-based proteins for foods and beverages, announced today that it has entered into a loan agreement (the "Loan Agreement") pursuant to which Large Scale Investments Limited (the "Lender"), a wholly-owned subsidiary of Firewood Elite Limited ("Firewood"), will provide Burcon with a secured loan (the "Loan") of up to $10 million (the "Loan Amount").
  • Upon the satisfaction of certain conditions with respect to each tranche, the Loan Amount will be available in two tranches of $5 million each.
  • The drawn portion of the Loan Amount will bear interest at a rate of 8% per annum (the "Principal Balance").
  • The Loan Agreement was approved by the independent members of the board of directors of Burcon, with Mr. Alan Chan abstaining from the vote.

Pharnext Holds Shareholders Meeting and Appoints Dr. James Kuo to Renewed Board of Directors

Retrieved on: 
Monday, June 20, 2022
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Pharnext Holds Shareholders Meeting and Appoints Dr. James Kuo to Renewed Board of Directors

Key Points: 
  • Pharnext Holds Shareholders Meeting and Appoints Dr. James Kuo to Renewed Board of Directors
    Dissemination of a French Regulatory News, transmitted by EQS Group.
  • Pharnext Holds Shareholders Meeting and Appoints Dr. James Kuo to Renewed Board of Directors
    PARIS, France, June 20, 2022, 08:30 am CET Pharnext SA (FR0011191287 - ALPHA) (the Company), an advanced late-clinical stage biopharmaceutical company developing novel therapeutics for neurodegenerative diseases with high unmet medical need, today announces that at its Annual General Meeting (AGM) on Friday June 17th all key resolutions proposed by the Pharnext Board of Directors (the "Board") were adopted.
  • On June 16, 2022, the Board co-opted Dr. James Kuo to replace Mr. Alex Berda, who resigned from the Board earlier this month.
  • Ratification of Dr. James Kuos Board membership will be submitted for approval at the next Shareholders meeting of the Company.

Body and Mind Extends Debt Financing

Retrieved on: 
Wednesday, June 15, 2022
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2 to Loan Agreement, the Company has issued 1,000,000 common stock purchase warrants (each, a "Warrant") to the Lender.

Key Points: 
  • 2 to Loan Agreement, the Company has issued 1,000,000 common stock purchase warrants (each, a "Warrant") to the Lender.
  • "The extension of our current loan facility aligns with our development program and provides flexibility around future opportunities," stated Michael Mills, CEO of Body and Mind.
  • About Body and Mind Inc.
    BaM is an operations focused US multi-state cannabis operator investing in high quality medical and recreational cannabis cultivation, production and retail.
  • This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

HilleVax Reports First Quarter 2022 Financial Results and Highlights Recent Company Progress

Retrieved on: 
Wednesday, June 8, 2022
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BOSTON, June 08, 2022 (GLOBE NEWSWIRE) -- HilleVax, Inc. (Nasdaq: HLVX), a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines, today reported financial results for the quarter ended March 31, 2022, highlighted recent program progress, and outlined key upcoming milestones for HIL-214, the company’s virus-like particle (VLP) based vaccine candidate for the prevention of moderate-to-severe norovirus-related acute gastroenteritis.

Key Points: 
  • Research and development expenses for the first quarter 2022 were $6.2 million, compared to $0.3 million for the first quarter 2021.
  • General and administrative expenses for the first quarter 2022 were $2.6 million, compared to $1.2 million for the first quarter 2021.
  • Other expenses for the first quarter 2022 were $56.6 million, compared to $0.1 million for the first quarter 2021.
  • Net loss for the first quarter 2022 was $67.9 million, compared to $1.5 million for the first quarter 2021.

Pharnext Announces Successful Debt Refinancing and New Loan Agreement

Retrieved on: 
Wednesday, June 8, 2022
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This Loan Agreement will provide the Company with added flexibility to manage its balance sheet and funding requirements.

Key Points: 
  • This Loan Agreement will provide the Company with added flexibility to manage its balance sheet and funding requirements.
  • Dr. David Horn Solomon, Chief Executive Officer of Pharnext, commented: We are grateful to Alpha Blue Ocean for its continued support of Pharnext.
  • Alpha Blue Ocean is committed to advancing promising companies and this agreement with Pharnext supports our mission.
  • Pharnext draws the attention of investors to the financial and other risk factors detailed in its financial reports.

Casella Waste Systems, Inc. Announces Pricing of $35.0 Million of Vermont Economic Development Authority Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2022

Retrieved on: 
Thursday, May 19, 2022
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Casella intends to use the net proceeds of the Bonds to finance and/or reimburse certain costs of certain capital projects in the State of Vermont.

Key Points: 
  • Casella intends to use the net proceeds of the Bonds to finance and/or reimburse certain costs of certain capital projects in the State of Vermont.
  • During the initial 5-year term fixed interest rate period, the interest rate on the Bonds will be 5.0%.
  • Casella cannot guarantee that it actually will achieve the plans, intentions, expectations or guidance disclosed in the forward-looking statements made.
  • There can be no assurance that Casella will be able to complete the closing of the offering of the Bonds on the anticipated terms, or at all.

PlantX Launches Multi-Brand Pop-Up RetaiI Initiative and Obtains $2 Million Convertible Loan

Retrieved on: 
Thursday, April 28, 2022
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The Pop-Up Initiative demonstrates the Company's leadership in the plant-based space by expanding and diversifying its partnerships with impactful plant-based brands.

Key Points: 
  • The Pop-Up Initiative demonstrates the Company's leadership in the plant-based space by expanding and diversifying its partnerships with impactful plant-based brands.
  • Each selected brand will be able to operate a signature pop-up installation in PlantX's brick-and-mortar location in Venice Beach.
  • The innovation potential of PlantX's Pop-up Initiative was demonstrated by the two successful pilot installations at the Company's Venice Beach location.
  • The Loan will bear interest at 12.0% per annum, with interest payable semi-annually, and will mature on April 26, 2024.

SmileDirectClub Completes New $255 Million Secured Debt Facility

Retrieved on: 
Thursday, April 28, 2022
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This new debt facility enables us to access additional liquidity on favorable terms by leveraging our account receivables, positioning SmileDirectClub to execute its strategy to drive future growth, said Troy Crawford, Interim Chief Finanical Officer and Chief Accounting Officer, SmileDirectClub.

Key Points: 
  • This new debt facility enables us to access additional liquidity on favorable terms by leveraging our account receivables, positioning SmileDirectClub to execute its strategy to drive future growth, said Troy Crawford, Interim Chief Finanical Officer and Chief Accounting Officer, SmileDirectClub.
  • On April 27, 2022, $65 million was outstanding under the new Loan Agreement.
  • SPVs obligations under the Loan Agreement are guaranteed on a limited basis by SmileDirectClub, LLC and SDC Financial LLC (collectively, the Guarantors).
  • SmileDirectClub, Inc. (Nasdaq: SDC) (SmileDirectClub) is an oral care company and creator of the first medtech platform for teeth straightening.

Plant Veda Announces $1,000,000 Convertible Loan and $225,000 Financing

Retrieved on: 
Saturday, April 23, 2022
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VANCOUVER, British Columbia, April 22, 2022 (GLOBE NEWSWIRE) -- Plant Veda Foods Ltd. (CSE:MILK) (OTC:PLVFF) (XFRA:A3CS6B) (the Company or Plant Veda), an award-winning dairy-alternative food manufacturer, announces it has entered into a loan agreement (the Loan Agreement) for a loan in the aggregate amount of $1,000,000 (the Loan) with a private lender (the Lender).

Key Points: 
  • VANCOUVER, British Columbia, April 22, 2022 (GLOBE NEWSWIRE) -- Plant Veda Foods Ltd. (CSE:MILK) (OTC:PLVFF) (XFRA:A3CS6B) (the Company or Plant Veda), an award-winning dairy-alternative food manufacturer, announces it has entered into a loan agreement (the Loan Agreement) for a loan in the aggregate amount of $1,000,000 (the Loan) with a private lender (the Lender).
  • The Loan will be evidenced by a secured convertible promissory note in the principal amount of the Loan (the Note), maturing two years from the date of issuance and bearing interest at a rate of 10% per annum.
  • Plant Veda Foods Ltd. has a mission to accelerate humanitys shift to a plant-based lifestyle.
  • To find Plant Veda products at a location near you, visit www.PlantVeda.com/pages/store-locations.

Mountain Province Diamonds Announces Closing of Previously Announced Junior Credit Facility

Retrieved on: 
Monday, March 28, 2022
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About Mountain Province Diamonds Inc.

Key Points: 
  • About Mountain Province Diamonds Inc.
    Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Ku diamond mine located in Canada's Northwest Territories.
  • For further information on Mountain Province Diamonds and to receive news releases by email, visit the Company's website at www.mountainprovince.com .
  • The principal assets of Mountain Province are administered pursuant to a joint venture under which Mountain Province is not the operator.
  • Under its current note and revolving credit facilities Mountain Province is subject to certain limitations on its ability to pay dividends on common stock.