ETRGF - Entourage Health to raise $8.9M in upsized credit facility amends unsecured convertible debentures terms

Entourage Health (OTCQX:ETRGF) amended and upsized its existing credit facility with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada adding an additional $8.9M in non-dilutive funding availability. Net proceeds of the facility will be used by Entourage to repay the debentures and for general working capital purposes. The maturity for the debentures has been amended to June 30, 2022 and, on the new maturity date, the debentures will be repaid, in cash, in an amount equal to 60% of the principal amount of debentures then outstanding, together with any accrued and unpaid interest earned on 100% of the principal amount of the debentures from the last interest payment date. The credit facility continues to bear an interest rate of 15.25% with the option to capitalize interest in lieu of cash payments of interest and is set to mature in August 2022.

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Entourage Health to raise $8.9M in upsized credit facility, amends unsecured convertible debentures terms