Rubicon Organics (ROMJF) entered into additional credit agreements pursuant to which it has borrowed up to an aggregate of $4,000,000 from Community Savings Credit Union. The Credit Agreements consist of a $3.0 million Capital Loan with a term of five years, with an amortization period of ten years, and bears interest at a rate of 6.79% per annum and a $1.0 million Line of Credit which bears interest at a rate of CSCU Basic Lending Rate plus 5.50%, calculated on a monthly basis. The Credit Agreements, secured against the Cascadia Facility and expected to be finalized within the next month, will be used by the Company to fund margin accretive projects at its Pacifica and Cascadia Facilities.
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