Grow Opportunity

News Business Finance
BZAM enters into Second Amended and Restated Credit Agreement

January 10, 2024  By Grow Opportunity Staff

(CNW) Vancouver — BZAM Ltd. is pleased to announce that, following the completion of the acquisition of all of the issued and outstanding shares of Final Bell Canada Inc. (FBC) from Final Bell Holdings International Ltd. (FBHI), BZAM, through its wholly owned subsidiary The Green Organic Dutchman Ltd, has today entered into a Second Amended and Restated Credit Agreement (SARCA) with its Canadian lender to incorporate the assets of FBC into the security collateral and, amongst other things:

(i) amend the EBITDA financial covenant to take effect on a rolling three month average basis; (ii) repay $1 million on the fixed portion of the facility from the proceeds of sale of the Edmonton property, such repayment amount then becoming available under the revolving portion of the facility and (iii) allow for the unsecured promissory note issued to Final Bell Holdings Inc., the prior affiliate of FBC. All other terms of its amended and restated credit agreement dated September 29, 2021 (as amended) not specifically amended will remain materially the same as before.

Print this page


Stories continue below