22 January 2024, Manitoba: Farmers Edge Inc. (“Farmers Edge” or the “Company”) (TSX: FDGE), a pure-play digital agriculture company, today announced that it has entered into an amendment to its secured credit facility (the “Facility”) with Fairfax Financial Holdings Limited and/or certain of its affiliates. The Facility has been increased by $12 million to an aggregate principal amount of $93.37 million. The increased amount was extended on the same terms as the rest of the Facility, including a deferred interest rate of 6% per annum and a maturity date of January 31, 2025. The net proceeds of the increase in the Facility will be used for working capital and general corporate purposes.
The related party transaction was unanimously approved by the independent directors of the Board of Directors of Farmers Edge, and has been accepted by the Toronto Stock Exchange under section 501(c) of the TSX Company Manual.
