Good Natured Products Inc. Announces Amendment to Wells Fargo Credit Agreement
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2023) - good natured Products Inc. (TSXV: GDNP) (OTCQX: GDNPF) (the "Company" or "good natured®"), today announced an amendment with respect to the credit agreement originally entered with Wells Fargo Capital Finance Corporation Canada ("Wells Fargo") on August 25, 2022, as amended on October 3, 2022 and February 28, 2023 (the "Credit Agreement").
On June 23, 2023 (the "Effective Date"), the Company entered into an agreement (the "Third Amendment") with Wells Fargo that fully waives the minimum EBITDA financial covenant for the three fiscal quarters ending June 30, 2023, September 30, 2023, and December 31, 2023 that was previously required under the Credit Agreement. As part of the Third Amendment, the Company agreed with Wells Fargo to increase the minimum liquidity requirement as outlined in the Credit Agreement from the Effective Date until at least March 31, 2024, subject to the terms disclosed in the Credit Agreement.
The Third Amendment agreement, the Credit Agreement and all other amendments thereto are available on SEDAR at sedar.com.
The good natured® corporate profile can be found at: investor.goodnaturedproducts.com
About good natured® Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis - Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/171252
