AgriMarine Closes Credit Facility with Dundee Agricultural
AgriMarine Holdings announced that it has entered into an agreement for a draw-down credit facility from Dundee Agricultural in the amount of up to $4.36 million.
Funds drawn will bear interest at a rate of 12.68% per annum calculated pro rata as to the date of such advance. The facility will mature one year from the date of issue and is secured by all of the assets of the company and its subsidiaries. No finder’s fees were paid in connection with the facility.
Funds drawn under the facility will be used for the expansion of operations at the company’s fish production facilities in Canada and China and for general working capital.
Canadian-based AgriMarine is a producer of sustainable fin fish.