The new facility sees the Company’s capacity raised by $20M to fund near-term acquisitions in the pipeline. This extends TNT’s initial $15M facility to $35M, with improved repayment terms on the new facility as the interest rate has decreased from 8.9% to 8.5% per annum. As part of the agreement, PURE will also be granted 44,444,445 warrants exercisable at $0.45, showing faith in TNT’s long-term strategy. The Company currently has a cash balance of in excess of $5M.
TNT Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
