- Heritage Cannabis ( OTCQB:HERTF ) said it amended a loan agreement with BJK Holdings for the second time to take the amount to ~C$19.78M across four facilities.
- Under the amendment, the maturity date on the loan was extended to Nov. 30, 2024 and an additional loan facility of ~C$4.99M was extended to Heritage, bringing the total amount accessible under the loan to C$19.78M, the company said in a Sept. 29 press release.
- A one-time loan amendment fee of C$985K was paid to BJK on Sept. 29, Heritage added.
- In connection with the loan, Heritage issued a new warrant certificate to BJK to buy up to 50M common shares at an exercise price of C$0.10 apiece.
- The company also agreed to extend the expiry date of existing warrant certificates with BJK to buy up to 10M shares to Feb. 28, 2025 from Oct. 8, 2023.
- Heritage noted that it will use the proceeds for general corporate purposes.
For further details see:
Heritage Cannabis increases loan facility with BJK to ~C$19.78M