News
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PRESS RELEASE
GFI Receives Demand Letters and Notices of Enforcement of Security From Senior Secured Lenders
Global Food and Ingredients Ltd. faces demand for full payment of subsidiary's debts from senior secured lenders. Company unable to obtain creditor protection, potential receiver appointment on May 23, 2024 -
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PRESS RELEASE
GFI Announces Closing of the Investments in Its Pet Food Division and a New 3-Year Committed Credit Facility
Global Food and Ingredients Ltd. announced completion of transactions to raise $3.45 million in equity and $10.0 million debt facility for pet food division, and $0.5 million for core ingredients. A new $20 million asset-based credit facility was also secured for core ingredients business, aiming to improve financial flexibility and strengthen the balance sheet -
PRESS RELEASE
GFI Announces Signing of Definitive Agreements for Investments in Its Pet Food Division
Global Food and Ingredients Ltd. (TSXV:PEAS) has announced the successful completion of transactions raising $12.3 million in investment capital. This includes $11.8 million for its pet food division, Big Sky Milling Inc., and an additional $0.5 million for the core ingredients division. These funds will be used to refinance existing loans and support further growth. The Pet Food Transaction also involves the issuance of warrants and a two-year committed debt facility. The Subordinated Loan from 35 Oak Holdings Ltd. will further bolster the company's core ingredients division. The transactions are expected to close on or about January 31, 2024, subject to regulatory and financing approvals. For more information, visit www.gfiglobalfood.com.
