Trius Loan to Revive Superfoods to be Partially Repaid Early
19 Octobre 2020 - 1:00PM
Trius Investments Inc. (TSXV: TRU) (“Trius” or the “Company”) is
pleased to announce that it has entered into an amendment (the
“Amendment”) to the secured promissory note (the “Loan”) advanced
to Revive Organics Inc. (“Revive Superfoods”) as previously
announced on March 20, 2020.
Pursuant to the Amendment, Revive Superfoods
shall repay not less than $500,000 of the outstanding principal
amount of the Loan to Trius early, in five equal monthly
installments beginning in November 2020. In addition, certain
contingent one-time payments contemplated in the Loan have been
waived by Trius.
Trius President and CEO Joel Freudman commented:
“We’ve been very pleased as a lender and partner to Revive
Superfoods, and couldn’t have hoped for a better company to lend to
– all interest payments have been made promptly, their management
team keeps us in the loop with financial disclosure and general
operational updates, and commercially their business has taken off
this year. We’re glad to remain their primary lender while the rest
of the Loan remains outstanding until March 20, 2021, and meantime,
we’ll evaluate how best to redeploy these early repayments into
other promising opportunities, including our burgeoning
Newfoundland Gold Exploration portfolio segment.”
Revive Superfoods operates in the dynamic
ready-to-eat meals industry, and has generated rapidly growing
revenues while expanding its offerings across North America. Revive
Superfoods offers a subscription service that delivers
ready-to-blend smoothies and other healthy prepared meals right to
consumers’ doors, with operations in Canada and the United States.
Revive Superfoods’ website is accessible at
https://revivesuperfoods.com/.
Revive Superfoods CEO Yousuf Soliman added: “The
Loan from Trius has really helped us scale up our business this
year, and as we continue to drive strong sales and cashflow growth,
we decided it would be prudent capital management for us to start
repaying the Loan balance before maturity.”
About Trius Investments Inc.
Trius seeks unique value-creation opportunities, currently
increasing its exposure to the precious metals sector by assembling
a portfolio of gold exploration properties in the Central
Newfoundland Gold Belt. Trius’ common shares trade on the TSXV
under the symbol “TRU”.
Trius is a portfolio company of Resurgent
Capital Corp. (“Resurgent”), a merchant bank providing venture
capital markets advisory services and proprietary financing.
Resurgent works with promising public and pre-public
micro-capitalization Canadian companies.
For further information, please contact: Joel
Freudman President & CEO Trius Investments Inc. Phone: (647)
880-6414
Cautionary Statements Regarding Forward-Looking
Information
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
All information contained in this press release
with respect to Trius and Revive Superfoods was supplied by the
respective parties for inclusion herein, and each party has relied
entirely on the other party for any information concerning the
other party. Trius does not assume any responsibility for the
accuracy or completeness of the information provided by Revive
Superfoods. The link to Revive Superfoods’ website was included
herein for general reference purposes only, and the content on such
website is expressly not incorporated into this press release by
reference.
This press release includes statements
containing forward-looking information that reflect the current
views and/or expectations of management of Trius and Revive
Superfoods, as applicable, including but not limited to those
relating to repayment of the Loan in accordance with the Amendment
and upon maturity, and Trius’ future investments. Statements
containing forward-looking information are not guarantees of future
performance and involve risks, uncertainties and assumptions, which
are difficult to predict, and which are outside of Trius’ control,
including repayment risk and those other risks described in the
Company’s continuous disclosure documents. Actual results may
differ materially from results contemplated by the forward-looking
statements herein. Investors and others should carefully consider
the foregoing factors and should not place undue reliance on such
forward-looking statements. Neither Trius nor Revive Superfoods
undertakes any obligation to update any forward-looking statements
herein except as required by applicable securities laws.
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