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BRIEF-Hudson Resources Announces Addition To Working Capital And Extension Of Loan Agreement

Published 2019-03-29, 09:10 a/m
BRIEF-Hudson Resources Announces Addition To Working Capital And Extension Of Loan Agreement
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March 29 (Reuters) - Hudson Resources Inc HUD.V :

* HUDSON RESOURCES ANNOUNCES ADDITION TO WORKING CAPITAL AND EXTENSION OF LOAN AGREEMENT

* HUDSON RESOURCES - CORDIANT IS ARRANGING INCREASE OF UP TO $8 MILLION TO CURRENT LOAN FACILITY OF US$22.5M TO BE USED FOR WORKING CAPITAL PURPOSES

* HUDSON RESOURCES - AGREEMENT REACHED WITH CORDIANT CAPITAL INC TO EXTEND MATURITY AND FIRST PRINCIPAL PAYMENT OF ITS LOAN BY ONE YEAR

* HUDSON RESOURCES INC - ADDITIONAL FUNDS ARE GENERALLY ON SAME TERMS AS CURRENT FACILITY

* HUDSON RESOURCES - MATURITY OF LOAN FACILITY WILL BE EXTENDED FROM JULY 15, 2024 TO JULY 15, 2025

* HUDSON RESOURCES - CO HAS AGREED TO GRANT CORDIANT WARRANT PACKAGE CONSISTING OF 2.85 MILLION WARRANTS AT PRICE OF $0.45 FOR A PERIOD OF FIVE YEARS

* HUDSON RESOURCES INC - CORDIANT WILL ELECT A MEMBER TO JOIN HUDSON BOARD AS AN OBSERVER

* HUDSON RESOURCES INC - COMPANY IS ALSO ACTIVELY INVOLVED IN DISCUSSIONS WITH SEVERAL POTENTIAL CUSTOMERS REGARDING NEW OFF-TAKE AGREEMENTS

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