Vancouver, British Columbia (Newsfile Corp. - December 21, 2022) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company") announces that the Company has arranged a subsequent advance of USD
Vancouver, British Columbia (Newsfile Corp. - January 20, 2022) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company"), a Toronto Stock Exchange (TSX) listed company, announces they have
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Lions Bay Capital Inc. Amends Riverfort Debt Facility and Arranges Additional Debt Financing
LBI) ( Lions Bay or the
Company ) announces that the Company has amended the secured loan facility ( Loan Facility ) with Riverfort Global Capital Ltd. on behalf of Riverfort Global Opportunities PCC Ltd. (the Lender ). The Loan Facility has amended the previously announced secured facility (see news release on March 15, 2018) and amended on July 4, 2019 to increase the Loan Facility to USD $2.0 million. Concurrent with the amendment the Company has arranged for the advancement of USD $250,000 for a total of USD $750,000 advanced on the Loan Facility.
The proceeds of this advance will be used by the Company to fulfill the initial tranche of the Salamander Mining International Ltd. loan and option agreement (see news release on June 17, 2021).
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The proceeds of this advance will be used by the Company to fulfill the initial tranche of the Salamander Mining International Ltd. loan and option agreement (see news release on June 17, 2021).
The additional advance has an 18-month term, with 70% of the advance payable in 12 months with 5% of the advance payable monthly in each of the last 6 months. The additional advance bears interest at 12% per annum and is subject to an implementation fee of 7%. The advance is secured by a guarantee from the Company and its wholly owned subsidiary, Pan Andean Capital Pty Ltd. (“Pan Andean”) and a pledge by Pan Andean of certain of the investments held by Pan Andean.