Vertex Resource to Enter CA$7 Million Term Loan
MT newswire2026/10/09 12:2508:25 AM EDT, 10/09/2026 (MT Newswires) -- Vertex Resource Group (VTX.V) plans to enter into a subordinated credit arrangement with Factory Capital Lending, as lead lender for a syndicate of participating lenders, pursuant to which the syndicate will loan up to CA$7 million to the company, it said in a statement late Thursday. The loan is expected to bear interest at 15% per annum, consisting of 9% per annum payable quarterly in arrears in cash and 6% per annum, compounded quarterly and capitalized to principal, repaid in full at its maturity, it said. The company intends to use proceeds of the loan for working capital and general liquidity needs. Subject to acceptance by the TSXV, the company would issue 4.9-million non-transferable common share purchase warrants to the participating lenders, pro rata to their respective portions of the loan, as a loan bonus, with each bonus warrant entitling the holder to buy a share for CA$0.18. The bonus warrants would expire on March 7, 2029, being the loan maturity date, it added. Shares of the company closed down 12% to CA$0.175 on Thursday on the TSX Venture Exchange.
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