OPTHF - Optimi Health Announces Second Tranche of CAD $1000000 Secured for Debt Financing | Benzinga
VANCOUVER, British Columbia, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Optimi Health Corp. (CSE:OPTI) (OTCQX:OPTHF) (FRA: 8BN) ("Optimi Health" or the "Company"), a Canadian drug research and formulation company licensed by Health Canada to manufacture psychedelic substances such as MDMA and high-quality, GMP-grade natural psilocybin, is pleased to announce it has entered into a non-dilutive Debt Financing Agreement ("DFA") and General Security Agreement ("GSA") for total proceeds of CAD$1,000,000 (the "Loan") from two arm's length parties (collectively the "Lender").
Pursuant to the DFA and the GSA, the Loan is secured against the assets of the Company and will bear interest at a rate of 7.5% per annum, payable by the Company to the Lender quarterly on the last business day of every fiscal quarter until full repayment. Upon maturity of the Loan, all outstanding principal shall be payable on August 29, 2026. The Company may repay the Loan at any time on notice to the Lender, subject to a prepayment fee. As partial consideration for the advance of the Loan from the Lender, the Company has granted a total of 100,000 common share purchase warrants (the "Warrants"), entitling the purchase of common shares in the Company. The Warrants are exercisable for three (3) years from the date of issuance, ...