Financings
Planet Green Metals arranges $150,000 credit line
PGR · Price
Executive Summary
- Planet Green Metals Inc. secured a $150,000 credit facility from Mid Atlantic Capital Associates Ltd., enhancing its financial flexibility for corporate initiatives.
- The facility is backed by an existing General Security Agreement and will bear interest at the rate specified in that agreement.
- Robert Coltura resigned from the board of directors; Jeremy S. Brett remains President & CEO.
Key Details
- Credit facility amount: $150,000.
- Lender: Mid Atlantic Capital Associates Ltd.
- Facility is provided under the terms of an existing General Security Agreement (GSA).
- Interest rate: consistent with the GSA (specific rate not disclosed).
- Security, covenants, and customary conditions apply to any advances.
- No finders’ fees or bonuses will be paid in connection with establishing the facility.
- Board change: Robert Coltura resigned, effective immediately.
- Remaining leadership: Jeremy S. Brett continues as President & CEO.
Notable Quotes
“This facility reflects a strong alignment between Planet Green Metals and Mid Atlantic Capital Associates,” said Sean Flynn, Chief Operating Officer. “Access to a committed line of credit provides us with additional flexibility and confidence as we continue building momentum and advancing the company's near‑term and longer‑term objectives.”
“On behalf of the board and management team, I would like to sincerely thank Robert for his contributions and service to Planet Green Metals,” commented Jeremy S. Brett, President & CEO.