Replies to post #9561 on Bzam Ltd (BZAMF)

[Jmach101]

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TGODF
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Thu, March 10, 2022, 6:30 AM
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TGODF
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Revolving facility limit is increased from $25 million to $30 million

Certain eligible inventory to be included as collateral

Amendment provides additional working capital to support continued revenue growth

TORONTO, March 10, 2022 /CNW/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (CSE: TGOD) (US-OTC: TGODF), a sustainable global cannabis company is pleased to announce that it has agreed to amend the terms of the amended and restated credit agreement dated September 29, 2021, as amended by a first amendment dated November 20, 2021 (the "Credit Agreement"), between The Green Organic Dutchman Ltd. (the "Borrower"), a wholly-owned subsidiary of TGOD, and its Canadian lender (the "Agent").

The Green Organic Dutchman Holdings Ltd. Logo (CNW Group/The Green Organic Dutchman Holdings Ltd.)
The Green Organic Dutchman Holdings Ltd. Logo (CNW Group/The Green Organic Dutchman Holdings Ltd.)
The Agent and the Borrower have agreed to enter into the second amendment to the Credit Agreement (the "Amendment") to, amongst other things: (i) increase the revolving facility limit by $5,000,000 to $30,000,000; (ii) allow certain eligible inventory to be included as collateral; and (iii) relax certain covenants set forth in the Credit Agreement; subject to the satisfaction of the various conditions set out therein. All other terms of the credit facility will remain the same as before, including the maturity date of June 30, 2023.

As consideration for the Amendment, the Company has issued a total of 500,000 common shares to the Agent and certain affiliates of the Agent based on an issue price of $0.10 per common share.