Well to be fair, if it were emergency funding, the cash balance clause would automatically kick in once the facility is live. ($6M minimum cash balance IIRC).
In reality - Karl probably didn't want to do a CR and decided accessing a loan for funding in the short term to take advantage of opportunities would be the best course of action. It is also only an interest-only line of credit so it won't be an issue to pay back those interest repayments until the company becomes CF+.
TLDR: This allows them the flexibility to grow by taking advantage of short term opportunities without worrying about short term cash flow which won't be an issue in a years time.
Makes perfect sense from a strategic perspective.
LVT Price at posting:
11.8¢ Sentiment: Buy Disclosure: Held
(20min delay)