Playground Ventures Inc (TSE:PLAY) has released an update.
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Playground Ventures Inc. has issued Bridge Notes as a short-term secured loan to raise $100,000 for general working capital needs, with an 8% interest rate that jumps to 15% in case of default. The company is in a state of financial difficulty and is utilizing the funds to stay afloat while it explores more sustainable financing options. These transactions involve related parties since the lenders are directors and officers of the company, with independent board members approving the loan.
For further insights into TSE:PLAY stock, check out TipRanks’ Stock Analysis page.