Business
KITS Eyecare Establishes $15 Million Asset-Based Lending Facility with Bank of Montreal
Kits Eyecare Ltd. (TSX: KITS) ("KITS" or the "Company") a leading vertically integrated eyecare provider announced that it has entered into a new three-year Asset-Based Lending (ABL) facility with Bank of Montreal ("BMO"), effective November 24, 2025. The facility provides borrowing capacity of $15 million, with the option to increase to $20 million, priced at approximately Prime + 1%.
About this update from Bank Of Montreal
[{"type":"text","content":"Adds Liquidity to Existing $19.7M Cash Balance as of Q3 2025","length":60,"tagName":"p","attribs":{}},{"type":"text","content":"Concurrently the Company has Fully Repaid BDC Term Loan Ahead of Schedule ","length":73,"tagName":"p","attribs":{}},{"type":"text","content":"VANCOUVER, BC, Nov. 25, 2025 /CNW/ - Kits Eyecare Ltd. (TSX: KITS) ("KITS" or the "Company") a leading vertically integrated eyecare provider announced that it has entered into a new three-year Asset-Based Lending (ABL) facility with Bank of Montreal ("BMO"), effective November 24, 2025. The facility provides borrowing capacity of $15 million, with the option to increase to $20 million, priced at approximately Prime + 1%.","length":460,"tagName":"p"},{"type":"image","alt":"KITS Eyecare Establishes $15 Million Asset-Based Lending Facility with Bank of Montreal (CNW Group/KITS Eyecare Ltd.)","displaySize":"","headline":null,"caption":"KITS Eyecare Establishes $15 Million Asset-Based Lending Facility with Bank of Montreal (CNW Group/KITS Eyecare Ltd.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":209,"url":"https://media.zenfs.com/en/cnwgroup.com/3b5b96bece4e03cb4dc6625c4021a301"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/9c5T7mUK9ZBfXgv7uauPBw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM2ODtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/3b5b96bece4e03cb4dc6625c4021a301","width":400,"height":209}},"href":"https://mma.prnewswire.com/media/2831632/KITS_Eyecare_Ltd__KITS_Eyecare_Establishes__15_Million_Asset_Bas.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Concurrently, KITS fully repaid its Business Development Bank of Canada ("BDC") term loan, originally issued on March 26, 2019, with an initial principal of $23.4 million and a scheduled maturity date of March 15, 2026. KITS completed the final $1 million payment on November 21, 2025, retiring the loan more than four months ahead of schedule. In 2025, KITS made $4.8 million year-to-date in total payments to close the facility. KITS has no outstanding long-term debt.","length":480,"tagName":"p"},{"type":"text","content":""As we enter our next phase of growth, we are excited to partner with one of Canada's largest banks to access cost efficient capital that allows us to scale into this growth,"...