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Yerbae Brands Corp
Symbol YERB
Shares Issued 63,085,228
Close 2024-11-08 U$ 0.15
Market Cap U$ 9,462,784
Recent Sedar Documents

Yerbae Brands clarifies loan with Maximcash

2024-11-08 16:43 ET - News Release

Mr. Todd Gibson reports

YERBAE BRANDS CORP. CLARIFIES TERMS OF LOAN AGREEMENT WITH MAXIMCASH

Yerbae Brands Corp. has supplemented certain disclosures related to its previously announced loan agreement dated July 3, 2024, with Maximcash Solutions LLC.

Pursuant to the terms of the loan agreement, Maximcash agreed to lend $750,000 (U.S.) to the company for a period of 12 months, payable in 24 biweekly payments. The loan, which was approved by consent resolution of directors of the company, is subject to an interest rate of 55.80 per cent, calculated annually and secured against all present and after-acquired property of the company and its wholly owned subsidiary, Yerbae Brands Co. The principal amount of the loan and any accrued and unpaid interest may be prepaid prior to maturity at an approximate 3-per-cent discount, in the event Yerbae pays Maximcash a total repayment amount of $937,500 (U.S.) within 90 days of the loan proceeds being paid to Yerbae by Maximcash.

The proceeds of the loan are to be used for the release of a UCC-1 financing statement in connection with a prior credit facility held by the company with Oxford Commercial Finance, a subsidiary of Oxford Bank.

In connection with the loan, the company also issued 214,285 common shares in the capital of the company at a deemed price of 35 U.S. cents per share as a stacking fee payment. The shares issued to Maximcash are subject to a four-month-and-one-day hold period from the date of their issuance. Final approval of the loan remains subject to TSX Venture Exchange approval.

For more information on the loan and the loan agreement, please see the company's Sept. 26, 2024, news release filed under its profile on SEDAR+.

About Yerbae Brands Corp.

Yerbae Brands makes great-tasting energy beverages with yerba mate and other premium, plant-based ingredients. All Yerbae energy beverages are zero calorie, zero sugar, non-GMO (genetically modified organism), vegan, keto friendly, paleo approved, gluten-free and diabetic friendly. Founded in Scottsdale, Ariz., in 2017, Yerbae seeks to disrupt the energy beverage marketplace by offering a no-compromise energy solution, with input and support from its recently announced Yerbae advisory board, sports and entertainment.

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