Entourage Health Amends Its Credit Facilities To Improve Debt Position
Entourage Health Corp. (OTCQX: ETRGF ) (TSX-V:ENTG) (FSE:4WE), has amended its existing senior secured credit facility entered into on March 29, 2019 between the company and Bank of Montreal , and its existing second secured credit facility with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada (“ LPF ”), entered into on September 30, 2020. The latest amendments to the senior credit facility and second credit facility modify the respective terms under which Entourage secured debt financing. Under the terms of the credit facilities amendments, Entourage secured an extension of the maturity date of the senior credit facility from June 30, 2022 to June 30, 2024, and of the second credit facility from August 15, 2022 to December 31, 2024, subject to certain conditions, the terms for which are described herein. “Today’s announcement reflects an important strategic advancement in securing improvements to our debt position and long-term capital structure as we align our liquidity resources with ongoing growth plans – all with the crucial support from our lenders,” stated George Scorsis , CEO and executive chairman, Entourage. “As part of our corporate transformation, we are continuing to finesse our business operations to produce premium products for added market share growth, whilst assuring that our financial footing is stabilized.
Entourage Health Amends Its Credit Facilities To Improve Debt Position
Entourage Health Corp. (OTCQX: ETRGF ) (TSX-V:ENTG) (FSE:4WE), has amended its existing senior secured credit facility entered into on March 29, 2019 between the company and Bank of Montreal , and its existing second secured credit facility with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada (“ LPF ”), entered into on September 30, 2020. The latest amendments to the senior credit facility and second credit facility modify the respective terms under which Entourage secured debt financing. Under the terms of the credit facilities amendments, Entourage secured an extension of the maturity date of the senior credit facility from June 30, 2022 to June 30, 2024, and of the second credit facility from August 15, 2022 to December 31, 2024, subject to certain conditions, the terms for which are described herein. “Today’s announcement reflects an important strategic advancement in securing improvements to our debt position and long-term capital structure as we align our liquidity resources with ongoing growth plans – all with the crucial support from our lenders,” stated George Scorsis , CEO and executive chairman, Entourage. “As part of our corporate transformation, we are continuing to finesse our business operations to produce premium products for added market share growth, whilst assuring that our financial footing is stabilized.