- Canadian lithium-ion battery maker Electrovaya ( OTCQB:EFLVF ) said it amended a C$16M loan agreement with its lender.
- Key amendments include a reduction in the interest rate calculation by 1% and extension of the term by six months with an option for a further six months under the same terms, according to the company.
- Electrovaya noted that the fees for the six month extension is 0.5% of the facility and will be paid in shares.
- Electrovaya said it has also repaid and closed its C$6M promissory note with the same lender in November.
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Electrovaya amends C$16M credit facility, repays promissory note