/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, Oct. 28, 2021 /CNW/ - good natured Products Inc.
(the "Company" or "good
natured®") (TSX-V: GDNP) today
announced that it has closed its previously announced $35.8 million senior credit facility with
National Bank of Canada ("National
Bank").
The secured senior credit facility consists of:
- $15 million revolving working
capital facility with a 2-year term and an uncommitted $10 million accordion available at the discretion
of National Bank;
- $4 million revolving term credit
facility to finance capital expenditures, amortized over 84 months;
and
- $6.755 million non-revolving term
credit facility.
Indebtedness under the senior credit facility will bear interest
at the Canadian Bankers' Acceptance Rate plus 2.75% and is secured
by all existing and future subsidiaries of the Company, including a
first mortgage on the Company's Brampton,
ON manufacturing facility which replaces the existing
mortgage on such facility, with a 25-year amortization.
About good natured Products Inc.
good
natured® is passionately pursuing its
goal of becoming North America's
leading earth-friendly product company by offering the broadest
assortment of eco-friendly options made from plants instead of
petroleum. We're all about making it easy and affordable for
business owners and consumers to switch to better everyday
products® made from renewable materials and
free from chemicals of concern.
Part of the sustainable consumer goods market, good
natured® offers over 400 products and
services through wholesale and retail channels, including our own
e-commerce stores. From plant-based home organization products to
compostable food containers, bioplastic industrial supplies and
medical packaging, we're focused on delivering a great customer
experience and to make more plant-based products readily accessible
to more people as the path to deliver meaningful environmental and
social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibilities for the adequacy or
accuracy of this release.
SOURCE Good Natured Products