Entourage Health Corp. (OTCQX:ETRGF) (TSXV:ENTG) (FSE:4WE) has amended and upsized its existing credit facility with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada (“LPF”), adding an additional $8.9 million in non-dilutive funding availability. Net proceeds from the credit facility will be used by Entourage to repay the debentures and for general working capital purposes as the company continues to execute a balanced approach to achieving sustainable profitable growth.
Entourage has implemented the previously announced amendments to the trust indenture dated as of September 25, 2019 between TSX Trust Company and the company governing the company’s 8.5% unsecured convertible debentures. As a result of the debenture amendments, the maturity date for the debentures has been amended to June 30, 2022 and, on the new maturity date, the debentures will be repaid, in cash, in an amount equal to 60% of the principal amount of debentures then outstanding, together with any accrued and unpaid interest earned on 100% of the principal amount of the debentures from the last interest payment date, less any tax required by law to be deducted.
