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BRIEF-Medipharm Labs Signs Committed Term Sheet For $20 Mln Debt Facility With Schedule 1 Bank

Published 2019-05-15, 07:13 a/m
© Reuters.  BRIEF-Medipharm Labs Signs Committed Term Sheet For $20 Mln Debt Facility With Schedule 1 Bank
LABS
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May 15 (Reuters) - Medipharm Labs Corp LABS.V :

* MEDIPHARM LABS SIGNS COMMITTED TERM SHEET FOR $20 MILLION DEBT FACILITY WITH SCHEDULE 1 BANK

* MEDIPHARM LABS CORP - CREDIT FACILITY IS INTENDED TO PROVIDE MEDIPHARM LABS ACCESS TO NON-DILUTIVE CAPITAL TO FUND PLANNED GROWTH

* MEDIPHARM LABS CORP-CREDIT FACILITY CONSISTS OF $15 MILLION OPERATING LOAN WITH ONE-YEAR TERM, $5 MILLION NON-REVOLVING EQUIPMENT TERM LOAN WITH A 3 YEAR TERM

* MEDIPHARM LABS CORP - CREDIT FACILITY, ONCE CLOSED, WILL BEAR INTEREST AT SCHEDULE 1 BANK'S PRIME LENDING RATE PLUS 1.85% PER ANNUM

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