MONTREAL, Oct 07, 2020 (GLOBE NEWSWIRE) – Elixxer Ltd. (TSX-V: ELXR) (OTC-QB: ELIXF) (FRA: 2LQA) (“Elixir“or the”Society“) is pleased to announce that it has closed its previously announced secured loan for the principal amount of C $ 4,000,000 (the”To lend“) with AIP Convertible Private Debt Fund LP (the”Lender“). The Loan has a term of 24 months, bears interest at the rate of 17% per annum and is guaranteed by a general security agreement on all the present and future assets of the Company.

At closing, the Company paid the lender (i) a facility fee of C $ 200,000; (ii) closing costs of C $ 250,000; and (iii) a due diligence fee of CA $ 75,000, in respect of the loan. The Company also issued to the lender a premium consisting of 46,333,333 common shares of the Company (the “Free actions”) At a deemed issue price of CA $ 0.015 per share, representing 20% ​​of the net loan amount. Free Shares are subject to a retention period of four months and one day from the date of their issue.

Elixxer intends to use the proceeds of the loan for working capital purposes and to pursue future investments.

About Elixxer Ltée (www.Elixxer.com)

Elixxer is a Canadian public company listed on the TSX Venture Exchange (TSX-V: ELXR) and the US OTC-QB Stock Exchange (OTCQB: ELIXF).

Through its partners, Elixxer currently holds significant interests in Australia, Jamaica, Switzerland, Italy and Canada.

For more information, please contact:

Mazen Haddad, CEO: [email protected]

Caution regarding press releases

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward-Looking Statements

This press release may contain forward-looking statements regarding Elixxer and its operations, strategy, investments, financial performance and condition. These statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe” or “Continue” or the negative of these. or similar variations. Elixxer’s actual results and performance could differ materially from those expressed or implied by such statements. These statements are qualified in their entirety by the risks and uncertainties inherent in future expectations. Certain important factors that could cause actual results to differ materially from expectations include, among others, general economic and market factors, competition, government regulations and the factors described under “Risk Factors and Risk Management” in Elixxer’s most recent MD&A filed on SEDAR (www.sedar.com). Cautionary statements qualify all forward-looking statements attributable to Elixxer and persons acting on its behalf. Unless otherwise indicated, all forward-looking statements speak only as of the date of this press release, and Elixxer has no obligation to update such statements, except to the extent required by applicable securities laws.


Source link

About The Author

Related Posts

Leave a Reply

Your email address will not be published.