Radient Technologies Inc. Announces Amendment to Loan Facility with Moskowitz Capital
August 26 2019 - 7:30AM
Radient Technologies Inc. (“Radient” or the
“Company”) (
TSX Venture: RTI; OTCQX: RDDTF), a
global innovator in the industrial scale extraction and downstream
processing of premium grade cannabis and hemp derivatives, has
amended (the “Amended Agreement”) the loan facility currently in
place (the “Existing Loan”) with Moskowitz Capital Mortgage Fund II
Inc. (“Moskowitz” or the “Lender”).
Radient, through its wholly owned subsidiary
1631807 Alberta Ltd. (the “Subsidiary”), entered into the Existing
Loan with Moskowitz in May 2018, allowing the Subsidiary to make
several strategic real estate transactions which provided the
Company with controlled access to its existing production facility,
as well as increased future expansion capacity.
The Amended Agreement provides for the following
changes to the Existing Loan:
- Principal Amount and
Maturity Date: The Amended Agreement increases the total
principal amount to CAD $8,500,000 (originally CAD $5,500,000) and
extends the maturity date to November 1, 2021 (originally November
1, 2020).
- Use of Proceeds:
The proceeds of the Amended Agreement will be used by Radient for
general working capital purposes.
Shares for Services:
Further the to the Company’s press release dated
July 29, 2019, Radient would like to clarify that it issued an
aggregate of 93,151 common shares for services during the month
ended June 30, 2019, rather than the quarter ended June 30,
2019.
About RadientRadient
Technologies provides industrial-scale manufacturing solutions for
premium natural ingredients and products. Utilizing its patented
MAP™ extraction technology, Radient delivers superior customer
outcomes in terms of ingredient purity, yield, and cost, serving
global market leaders in industries such as foods & beverages,
nutraceuticals, pharmaceuticals, cosmetics, and personal care.
Since 2016, Radient has expanded its offerings to enter the
cannabinoids market, using its MAP™ platform to provide premium
ingredients that contain a full range of cannabinoid and terpene
profiles. Please visit www.radientinc.com for more information.
SOURCE: Radient Technologies Inc.
Investors please contact: William (Bill) Wasson,
Senior VP of Capital Markets and Investor Relations:
wwasson@radientinc.com
Media/press please contact: Caitlin Cheadle,
Director of Communications: ccheadle@radientinc.com
Forward-Looking
Information:This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the growth of the Company’s
business operations; the construction of the Company’s facilities;
the use of proceeds of the Amended Agreement. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will be taken”, “occur” or “be achieved”. Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Radient, as the case may
be, to be materially different from those expressed or implied by
such forward-looking information. Although Radient has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Radient does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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