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Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF), a leading North American oilfield chemical distribution and blending company, has announced the renewal of its senior credit facilities (ABL Facility) with the Canadian Imperial Bank of Commerce (CIBC). The renewed facility has a borrowing base of $37.5 million and is committed until April 30, 2026.
Key details of the ABL Facility include:
- Interest rates: Canadian prime rate plus 2% or CORRA and SOFR rate plus 2%
- Standby fee: 0.25% on unused amounts
- Security: General security agreement covering inventory and accounts receivable
The renewal also includes amendments to reduce professional fees associated with facility administration and an additional default provision related to the renegotiation of subordinated debt. Don Caron, Chairman & CEO, expressed appreciation for CIBC's continued support over the past decade.
Bri-Chem Corp (TSX: BRY) (OTCQB: BRYFF), a leading North American oilfield chemical distribution and blending company, has announced that its common shares have been accepted for listing on the U.S. OTCQB Venture Market. The company's shares have begun trading under the ticker symbol BRYFF, while continuing to trade on the TSX under the symbol BRY.
Don Caron, Chairman & CEO, expressed excitement about the OTCQB listing, stating that it will help increase Bri-Chem's visibility and allow for greater engagement with their U.S. investor base. This move aligns with the company's efforts to advance its market presence in both the United States and Canada.
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