Premier Health Secures C$27M Senior Secured Credit Facilities by RBC
30 August 2021 - 2:00PM
Premier Health of America Inc. (TSXV:
PHA) (the
“
Corporation” or “
Premier
Health”), a leading Canadian Healthtech company, announces
it has negotiated the provision of two senior secured credit
facilities by Royal Bank of Canada (“
RBC”) for a
total amount of up to C$27,00,000 (each a “
Credit
Facility”).
The first Credit Facility is a C$25,000,000
committed senior secured revolving facility maturing 3 years from
the closing date. The terms include a C$10M accordion feature that
enables the Corporation to request increases in the total
commitment by an aggregate amount of up to C$10M, subject to RBC’s
approval. The purpose of the facility is to refinance existing debt
of approximately C$8.8M and for general corporate purposes,
including future acquisitions. The second Credit Facility is a
C$2,000,000 uncommitted revolving lease line to finance equipment
including rolling stock.
In connection with the Credit Facilities, the
Corporation and its wholly owned subsidiaries will be entering into
a general security agreement and a deed of movable hypothec in
favor of RBC, charging all personal/movable property of the
Corporation, on terms and conditions customary for such financing.
The Credit Facilities are subject to conditions precedent to
closing customary to credit agreements of this nature including but
not limited to the execution and delivery of loan and security
documents and all necessary authorizations and approvals.
“Having access to flexible credit arrangements
improves our financial structure and is also a tangible sign of
Premier Health’s increasing maturity.” Said Martin Legault, CEO of
Premier Health.
Sylvain Charbonneau, Premier Health’s CFO added:
“additional funds and added flexibility will ensure our ability to
maintain our growth without interruption.”
About Premier Health
Premier Health is a leading Canadian Healthtech
company that provides a comprehensive range of outsourced services
solutions for healthcare needs to governments, corporations, and
individuals. Premier Health uses its proprietary PSweb platform to
lead the healthcare services sector digital transformation to
provide patients with faster, cheaper and more accessible care
services.
For Further Information Please
Contact:
Mr. Jean-Robert PronovostVice-President,
Corporate DevelopmentPremier Health of America
Inc.jrpronovost@premierhealth.ca / 1 800 231 9916
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION:
This press release contains forward-looking
information based on current expectations. Statements about the
date of trading of the Corporation’s common shares on the Exchange
and final regulatory approvals, among others, are forward-looking
information. These statements should not be read as guarantees of
future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. The Corporation
assumes no responsibility to update or revise forward-looking
information to reflect new events or circumstances unless required
by law. These factors and others are more fully discussed in the
filings of the Corporation with Canadian securities regulatory
authorities available at www.sedar.com.
Premier Health of America (TSXV:PHA)
Historical Stock Chart
Von Dez 2024 bis Jan 2025
Premier Health of America (TSXV:PHA)
Historical Stock Chart
Von Jan 2024 bis Jan 2025