on The Fresh Factory B.C. Ltd. (CVE:FRSH)
The Fresh Factory Secures US$4 Million Credit Facility
The Fresh Factory B.C. Ltd., a company focused on fresh, clean-label food and beverage brands, has announced a new financial arrangement. It secured a three-year revolving asset-based lending facility, totaling US$4 million, with Mitsubishi HC Capital America Inc. This facility aims to support the company's U.S. operations.
The funds, secured against The Fresh Factory's unencumbered assets, are intended for working capital and corporate purposes. CEO Bill Besenhofer emphasized this facility's role in accelerating growth and expanding the company's reach.
The agreement includes fees for unused portions and early repayments. A $60,000 closing fee and annual fees of $15,000 are also part of the deal. This facility is expected to be fully serviced by future revenue.
R. H.
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