Financings
Tevano Systems arranges $500,000 loan
TEVO · Price
Executive Summary
- Tevano Systems Holdings Inc. entered into an unsecured loan agreement for $500,000 with a third‑party lender.
- The loan carries interest at 12% per annum and matures on or before February 25, 2027, with an early repayment trigger if the company obtains other financing.
- Proceeds will be used to cover fees required to resume trading (accounting, legal) and for general working‑capital purposes; closing is pending CSE acceptance and expected around February 27, 2026.
Key Details
- Loan Amount: $500,000 unsecured.
- Interest Rate: 12% per annum on the unpaid principal.
- Maturity Date: On or before February 25, 2027; may be repaid earlier at the company’s discretion.
- Early Repayment Trigger: If Tevano receives other financing prior to maturity, the loan becomes due within five business days of that financing receipt.
- Use of Proceeds: Payment of fees necessary to resume trading (accounting and legal) and general working‑capital needs.
- Closing Conditions: Subject to acceptance by the Canadian Securities Exchange; anticipated closing date is on or about February 27, 2026.
Notable Quotes
(No quotes were provided in the release.)