The Good Flour Corp. Announces Loan Amendment
The Good Flour Corp. (CSE: GFCO) (OTC Pink: GFCOF) (FSE: 3KZ) has amended its loan agreement with an arm's-length lender, increasing the borrowing limit to $750,000. The loans will bear 10% annual interest, are unsecured, and mature on March 31, 2025. The facility is non-revolving, and funds will be used for general corporate and working capital purposes.
In connection with the loan facility, GFCO will issue up to an additional 1,785,700 share purchase warrants to the lender, vesting pro-rata upon each loan advance. Each warrant is exercisable into one class 'A' common share at $0.14 per share until March 15, 2029. The total Bonus Warrants issued under the Loan are now 5,357,100.
The Good Flour Corp. (CSE: GFCO) (OTC Pink: GFCOF) (FSE: 3KZ) ha modificato il suo contratto di prestito con un prestatore indipendente, aumentando il limite di prestito a $750.000. I prestiti avranno un interesse annuale del 10%, sono non garantiti e scadranno il 31 marzo 2025. La struttura è non rotativa e i fondi verranno utilizzati per scopi aziendali generali e di capitale circolante.
In relazione alla linea di credito, GFCO emetterà fino a un ulteriore 1.785.700 warrant per l'acquisto di azioni al prestatore, che acquisiranno diritto pro-rata ad ogni erogazione del prestito. Ogni warrant è esercitabile in un'azione comune di classe 'A' al prezzo di $0.14 per azione fino al 15 marzo 2029. Il totale dei bonus warrant emessi in base al prestito è ora 5.357.100.
The Good Flour Corp. (CSE: GFCO) (OTC Pink: GFCOF) (FSE: 3KZ) ha modificado su acuerdo de préstamo con un prestamista independiente, aumentando el límite de préstamo a $750,000. Los préstamos tendrán un interés anual del 10%, son no garantizados y vencerán el 31 de marzo de 2025. La línea de crédito es no rotativa y los fondos se utilizarán para finalidades corporativas generales y de capital de trabajo.
En relación con la línea de crédito, GFCO emitirá hasta 1,785,700 opciones de compra de acciones al prestamista, que se activarán de forma proporcional a cada avance de préstamo. Cada opción se puede ejercer para obtener una acción común de clase 'A' a $0.14 por acción hasta el 15 de marzo de 2029. El total de las opciones de bonificación emitidas bajo el préstamo es ahora 5,357,100.
The Good Flour Corp. (CSE: GFCO) (OTC Pink: GFCOF) (FSE: 3KZ)는 대출 계약을 수정했습니다, 대출 한도를 $750,000로 증가시켰습니다. 대출은 연 10%의 이자율이 적용되며, 담보가 없고 2025년 3월 31일에 만료됩니다. 이 시설은 비회전식이며, 자금은 일반 기업 및 운영 자본 용도로 사용됩니다.
대출 시설과 관련하여, GFCO는 대출자에게 최대 1,785,700개의 주식 구매 권리서를 발행할 것입니다. 각 대출 이행 시 비례적으로 취득됩니다. 각 권리는 2029년 3월 15일까지 $0.14의 가격에 클래스 'A' 보통 주식으로 행사할 수 있습니다. 대출에 따라 발행된 총 보너스 권리는 이제 5,357,100입니다.
The Good Flour Corp. (CSE: GFCO) (OTC Pink: GFCOF) (FSE: 3KZ) a modifié son contrat de prêt avec un prêteur indépendant, en augmentant le plafond de l'emprunt à 750 000 $. Les prêts porteront un taux d'intérêt annuel de 10%, sont non sécurisés et arriveront à échéance le 31 mars 2025. La ligne de crédit est non renouvelable et les fonds seront utilisés pour des besoins généraux d'entreprise et de fonds de roulement.
En lien avec la ligne de crédit, GFCO émettra jusqu'à 1 785 700 bons de souscription d'actions au prêteur, qui seront acquis au prorata à chaque avance de prêt. Chaque bon est exerçable en une action ordinaire de classe 'A' au prix de 0,14 $ par action jusqu'au 15 mars 2029. Le nombre total de bons de souscription émis dans le cadre du prêt est maintenant 5 357 100.
The Good Flour Corp. (CSE: GFCO) (OTC Pink: GFCOF) (FSE: 3KZ) hat seinen Kreditvertrag geändert, um die Kreditobergrenze auf 750.000 $ zu erhöhen. Die Darlehen werden mit 10% Jahreszins berechnet, sind ungesichert und laufen am 31. März 2025 aus. Die Einrichtung ist nicht revolving, und die Mittel werden für allgemeine Unternehmens- und Betriebskapitalzwecke verwendet.
Im Zusammenhang mit der Kreditlinie wird GFCO bis zu 1.785.700 Aktienoptionsscheine an den Kreditgeber ausgeben, die pro rata mit jeder Kreditvergabe fällig werden. Jede Option kann bis zum 15. März 2029 zu einem Preis von 0,14 $ pro Aktie in eine Stammaktie der Klasse 'A' umgewandelt werden. Die Gesamtzahl der im Rahmen des Kredits ausgegebenen Bonus-Warrants beträgt nun 5.357.100.
- Increased borrowing capacity to $750,000 for working capital
- Extended maturity date to March 31, 2025
- Non-dilutive financing through loan agreement
- 10% annual interest rate on loans
- Potential dilution from 5,357,100 total Bonus Warrants if exercised
Vancouver, British Columbia--(Newsfile Corp. - October 7, 2024) - The Good Flour Corp. (CSE: GFCO) (OTC Pink: GFCOF) (FSE: 3KZ) ("GFCO" or the "Company") announces that it has further amended the loan agreement (the " Loan Agreement") with an arm's-length lender (the "Lender"), originally announced on March 8, 2024 and July 5, 2024, to increase the principal amount the Company may borrow to up to
The facility is non-revolving. The Company intends to use any funds advanced as Loans for general corporate and working capital purposes. In connection with making the loan facility available, the Company has agreed to issue up to an additional aggregate of 1,785,700 share purchase warrants (each, a "Bonus Warrant") to the Lender, with such Bonus Warrants vesting on a pro rata basis upon advance of each Loan pursuant to the Loan Agreement. Each Bonus Warrant will be exercisable into one (1) class "A" common share (each, a "Bonus Warrant Share") at a price of
About The Good Flour Corp.
For additional information on The Good Flour Corp. please refer to www.goodflour.co.
Company Contact
investors@goodflour.co
604-423-4400
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events related to GFCO that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, the terms of the Loan and the use of proceeds from the Loan.
In certain cases, forward-looking information can be identified by the use of words such as "expects", "intends", "anticipates" or variations of such words or state that certain actions, events or results "may", "would", or "might" suggesting future outcomes, or other expectations, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain assumptions regarding, among other things, the timely receipt of regulatory approvals and the Company's working capital expectations will be met. While GFCO considers these assumptions to be reasonable, they may be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed by the forward-looking information. Such factors include risks related to general business uncertainties; the sufficiency of our cash to meet liquidity needs; risks associated with supply chain for machinery and equipment; regulatory, political and competitive developments; failure to attract, maintain and expand relationships with key restaurant and food service partners; changing consumer taste preferences; delay or failure to receive regulatory approvals; failure to attract qualified personnel and the additional risks identified in the "Risk Factors" section of GFCO's filings with applicable Canadian securities regulators.
Although GFCO has attempted to identify factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated. Readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, GFCO does not undertake any obligation to publicly update forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225910
FAQ
What is the new borrowing limit for The Good Flour Corp. (GFCOF) under the amended loan agreement?
When do the loans mature for The Good Flour Corp. (GFCOF) under the amended agreement?
What is the interest rate on the loans for The Good Flour Corp. (GFCOF)?
How many additional share purchase warrants will The Good Flour Corp. (GFCOF) issue in connection with the loan facility?
