- Edge Total Intelligence (CTRL) has announced that its independent directors have approved a credit letter agreement with Lotus Domaine III
- The credit letter agreement is for the advancement of a non-revolving term loan in the amount of up to US$1,000,000 and took effect on June 1, 2022
- Lotus Domaine III L.P. is an investment fund managed by a director of Edge Total Intelligence Inc
- Edge Total Intelligence is a software company that offers real-time digital operations solutions
- Edge Total Intelligence Inc. (CTRL) opened trading at $0.70.
Edge Total Intelligence (CTRL) has announced that its independent directors have approved a credit letter agreement with Lotus Domaine III.
The credit letter agreement is for the advancement of a non-revolving term loan in the amount of up to US$1,000,000 and took effect on June 1, 2022.
Lotus Domaine III L.P. is an investment fund managed by a director of Edge Total Intelligence Inc.
The proceeds of the credit facility will be advanced by way of draw-down notices in the minimum amount of US$100,000. The purpose of each draw-down shall be stated on each draw-down notice, and the lender shall approve such purpose at the time of each advance.
The credit facility has a maturity date of May 31, 2025 and bears interest at the annual rate of 5 per cent, payable quarterly. It may be prepaid at any time prior to the maturity date, in whole or in part, without premium or penalty.
No commission or bonus was paid in connection with the credit facility, and the credit facility is not convertible into any securities of the company.
Edge Total Intelligence Inc is a software company that offers real-time digital operations solutions.
Edge Total Intelligence Inc. (CTRL) opened trading at $0.70.