Amcomri Entertainment Inc (TSE:AMEN) has released an update.
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Amcomri Entertainment Inc. has successfully renegotiated and extended the terms of its existing credit facilities, now due on June 30, 2024, with a fixed interest rate of 15% annually. The loans, originally in US dollars, have been converted to British Pounds, and can be repaid at any time without penalty. These loan amendments, involving a related party transaction with the Company’s Chairman’s entity, have been approved by independent board members and meet regulatory exemptions.
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