It buys the company more time.
This is the first tranche (had to use that word because the company did one time) of the continuing game. Is it all Shenanigans with the company, the lenders, and the Noteholders all in cahoots? Who knows. Anyway, Bridge loan must be paid immediately upon first draw of the DIP loan or Apr16, whichever comes first.
Computershare's silence is deafening, which may indicate they have cut a deal. Likely, Computershare will "complain" and want to be paid off to sign off on the Plan of Arrangement. According to Fung's affidavit, the CCAA was because one of the big PP lenders suggested the PP be placed under a "court process" so the PP could complete without problem. The PP was supposedly very very close to completing, so no excuse to not pay off Noteholders.
Interesting, is that the DIP loan conditions, a single sentence that is easily included, was missing. Probably so they can play the commons some more with their spare pocket money. This is typical pinkie stuff. Holding back info, silence and "secrets" so rumors can take off and then drive sp. Pinkies thrive on secrets and rumors.
It all looks like an orchestrated plan that is moving along just fine.
PS There are no dumb questions. Being proactive, and asking questions, to seek information is one of the smartest things an investor can do.