ZBISF - Zenabis amends agreement on $60M revolving credit facility

Cannabis cultivator Zenabis Global Inc. (ZBISF) has amended an agreement regarding a revolving credit facility of $60M entered into on Jan. 21, 2021.The conditions the company needs to satisfy before the initial draw has been extended to June 30, 2021.The requirement that Zenabis issue 5,972,873 common shares as a partial commitment fee has been replaced by agreeing to increase the cash commitment fee.The termination fee has been changed from 2% of the total commitment to a descending monthly sliding scale ranging from 4% to 0%.Echelon Capital Markets remains the exclusive financial advisor in the arrangement of the credit facility.On Friday, Zenabis shares closed down 7% to $0.10.

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Zenabis amends agreement on $60M revolving credit facility