Eve & Co Announces CAD$1M Private Financing
December 30, 2020 17:36 ET | Source: Eve & Co Incorporated Eve & Co Incorporated Strathroy, Ontario, CANADA
STRATHROY, Ontario, Dec. 30, 2020 (GLOBE NEWSWIRE) Eve & Co. Incorporated (TSXV: EVE) (OTCQX: EEVVF) (the “Company” or “Eve & Co”) announces that its wholly-owned subsidiary Natural MedCo Ltd (“NMC”) has entered into a CAD$1M financing loan with a private consortium of lenders (the “CAD$1M financing” or the “Loan”).
The CAD$1M financing has a two-year term and is to be received in two equal tranches of CAD$500,000. The first CAD$500,000 tranche has been received – net of issuance costs of approximately CAD$29,000 – and bears interest – payable monthly – at 15% per annum for the first year and 11% per annum for the second year. Monthly repayments of principal and interest can only be made during the second year of the term. The principal outstanding