Radient has amended its credit facility with Moskowitz Capital Mortgage Fund II, increasing the principal to C$8.5 million ($6.4 million).
Radient, through its wholly owned subsidiary 1631807 Alberta entered into the Existing Loan with Moskowitz in May 2018, allowing the subsidiary to make several strategic real estate transactions which provided the company with controlled access to its existing production facility, as well as increased future expansion capacity.
The amended agreement provides for the following changes to the existing loan:
The amended agreement increases the total principal amount to C$8.5 million ($6.4 million) from C$5.5 million ($4.16 million) and extends the maturity date to November 1, 2021 from November 1, 2020._x000D_
The proceeds of the amended agreement will be used by Radient for general working capital purposes._x000D_
Radient Technologies provides industrial-scale manufacturing solutions for premium natural ingredients and products.
