Edge Total Intelligence Inc. (TSXV:CTRL) independent directors approved a credit letter agreement with Lotus Domaine III, L.P., an investment fund managed by a director of the company, for the advancement of a non-revolving term loan of up to $1 million, effective June 1, 2022.
The proceeds are to be advanced by way of drawdown notices in the minimum amount of $100,000.
The credit facility has a maturity date of May 31, 2025, and bears interest at the annual rate of 5%, payable quarterly.
The purpose of each drawdown will be stated on each drawdown notice.
Price Action: CTRL shares traded flat at C0.70 on TSXV on the last check Friday.
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