Monday, June 23, 2025

Latest

The Very Good Food Company Secures $70 Million Credit Facility From Waygar Capital

The Very Good Food Company Inc. (TSXV: VERY) this morning announced the closing of a loan agreement for a senior secured credit facility with Waygar Capital, as agent for Ninepoint Canadian Senior Debt Master Fund. The agreement sees the company take a $70 million credit facility from the lender.

The credit facility consists of a $50 million senior secured asset-backed term loan and a $20 million revolving line of credit, all of which is due on June 7, 2023 and contains a one-year extension option. All amounts drawn from the credit facility will be subject to a 9.95% annual interest rate.

In connection with the loan agreement, The Very Good Food Company will also issue 225,000 common share purchase warrants to Waygar Capital. Each warrant is exercisable for one common share at a price of $5.62 per share within 5 years from issuance.

The company intends to use the proceeds from the loan agreement on working capital, general corporate purposes, acquisitions, and equipment procurement support.

The Very Good Food Company Inc. last traded at $4.52 on the TSX Venture.


Information for this briefing was found via Sedar and The Very Good Food Company. The author has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Tudor Gold x American Creek: Consolidating A Massive Gold Project

Aura Minerals: The Era Dorada Underground PEA

Gold Is Now Smart Money’s End Game | Doug Casey

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Very Good Food Company Announces November Sales Of $0.8 Million

The Very Good Food Company (CSE: VERY) this morning announced record monthly sales for the...

Thursday, December 10, 2020, 08:20:38 AM

Very Good Food Company Closes $20.7 Million Bought Deal Financing

The Very Good Food Company (TSXV: VERY) this morning announced the closing of a bought...

Friday, July 2, 2021, 10:49:00 AM

Very Good Food Company To Uplist To TSX Venture March 17

The Very Good Food Company (CSE: VERY) this morning announced that it will be leaving...

Friday, March 12, 2021, 07:45:17 AM

Very Good Food Company Sees Expanded Production, Expands Distribution In Eastern Canada

The Very Good Food Company (CSE: VERY) this morning released an update related to its...

Tuesday, January 5, 2021, 08:22:53 AM

Very Good Food Co Slashes Production, Staff, As Growth Fails To Materialize

Evidently the plant-based food market is not as big as it was believed to be...

Wednesday, March 16, 2022, 08:17:38 AM