KDA Group -- New Bank Financing
Thetford Mines, Quebec – TheNewswire - July 20, 2021 – KDA Group Inc. (TSXV:KDA) (“KDA” or the “Corporation”) is pleased to announce it has entered into a commitment letter (the “Commitment Letter”) with Private Debt Partners (“PDP”) regarding terms and conditions of a new term debt financing of up to CAD $7.0 million for a 2-year term (the “Debt Financing”) to replace National Bank of Canada’s debt financing.
The Commitment Letter details the Debt Financing is subject to conditions precedent, in particular the execution of all legal agreements including but not limited to a detailed credit agreement, an inter-creditor agreement and all security agreements.
Also, PDP shall be granted $420,000 worth of warrants in KDA, in respect with TSX Venture Exchange’s (“TSXV”) policy.
The Debt Financing is expected to close before July 30, 2021 and is subject to the fulfillment of certain conditions including the final approval of any regulatory authorities by which each party must comply to, in particular the TSXV.
ABOUT KDA GROUP
KDA Group is a leading technological innovations and specialized solutions provider in the pharmaceutical market. Today, it is a respected name for quality and expertise among the different stakeholders in the pharmaceutical and medical sector. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally. Additional information on the Corporation is available at www.kdagroup.ca and on SEDAR at www.sedar.com.
ABOUT PRIVATE DEBT PARTNERS
Private Debt Partners (PDP) is a private debt firm solely focused on Canadian mid-market opportunities. PDP originates and structures senior secured loans to high-quality companies. Additional information on PDP is available at www.privatedebt.com.
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CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release from KDA Group contains forward-looking statements. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, strategy, target, and other similar expressions, or future or conditional verbs such as aim, anticipate, believe, predict, could, expect, intend, may, plan, seek, should, strive, and will. By their nature, forward-looking statements require us to make estimates and assumptions and express opinions based on current conditions and anticipated developments, as well as other factors that Management may deem appropriate under the circumstances. There is inherent uncertainty and significant risk in these estimates, assumptions, and opinions, particularly of a commercial, economic, and competitive nature, and they are therefore subject to change. KDA Group cannot guarantee that these estimates, assumptions, and opinions will prove to be accurate.
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 press release.
Chief Executive Officer