MediPharm Labs signs term sheet for $20M debt facility

|About: MediPharm Labs Corp. (MEDIF)|By:, SA News Editor

MediPharm Labs (OTCQX:MEDIF) has signed a committed term sheet for a $20M senior secured revolving credit facility from a Canadian Schedule 1 Bank.

The Credit Facility will provide access to non-dilutive capital to fund planned growth, as well as for general corporate and working capital purposes.

The Credit Facility, once closed, will bear interest at the Schedule 1 Bank’s prime lending rate plus 1.85% per annum.

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