Clearford announces additional US$195,000 term loan – QNT Press Release

Ottawa, Ontario, January 5, 2022 /CNW/-Clearford Water Systems Inc. (“Clearford” or “Company”), (TSXV:Command line interface), today announced that it has signed additional new loan agreements 195,000 USD. The proceeds from financing will be used to fund the company’s working capital needs.The annual interest rate of the loan is 9.75%, and the maturity date is December 23, 2031.

The value of the new loan is 195,000 USD It is paid semiannually in May and November each year, with an interest rate of 9.75%. The company provided a general guarantee agreement for the assets of its subsidiary Clearford Koester Canada Inc. The funds have been fully prepaid to the company.

As the company previously announced, its board of directors has initiated a formal process to review potential strategic alternatives available to the company. This process is still continuing and no other new information is currently available.

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