Conifex Timber Inc. has secured a $25 million term loan with PenderFund Capital Management Ltd., a Vancouver-based investment firm. A portion of the Term Loan was utilized to repay and retire Conifex's existing lumber segment credit facility with Wells Fargo Capital Finance Corporation Canada in the amount of approximately $11 million. The balance of the Term Loan will be available for working capital and general corporate purposes. The loan, bearing an interest rate of 14% annually and secured by Conifex's lumber segment assets, includes a provision for 3.6 million common share purchase warrants. “We ...
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