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BRIEF-Spectra7 Announces Term Sheet For Asset Based Senior Secured Note Loan Facility

Published 2019-06-17, 07:47 p/m
© Reuters.  BRIEF-Spectra7 Announces Term Sheet For Asset Based Senior Secured Note Loan Facility

June 17 (Reuters) - Spectra7 Microsystems Inc SEV.TO :

* SPECTRA7 ANNOUNCES TERM SHEET FOR ASSET BASED SENIOR SECURED NOTE LOAN FACILITY

* HAS ENTERED INTO A NON-BINDING TERM SHEET WITH RESPECT TO A US$12.0 MILLION SENIOR SECURED NOTE LOAN FACILITY.

* SPECTRA7 MICROSYSTEMS- FACILITY SHALL BEAR INTEREST AT A RATE OF 11.25% PLUS AN ANNUAL FEE OF UP TO US$250,000 PER ANNUM BASED ON COMPANY'S REVENUES

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