Business
Beedie Investments Ltd. Announces Filing of Updated Early Warning Report
Vancouver, British Columbia--(Newsfile Corp. - July 25, 2025) - Beedie Investments Ltd. ("Beedie ...
About this update from Enthusiast Gaming Holdings Inc
[{"type":"text","content":"Beedie Investments Ltd. Announces Filing of Updated Early Warning ReportVancouver, British Columbia--(Newsfile Corp. - July 25, 2025) - Beedie Investments Ltd. (\"Beedie Capital\") entered into a forbearance and first supplemental credit agreement on July 9, 2025 with the Enthusiast Gaming Holdings Inc. (the \"Company\"), as borrower, and certain subsidiaries of the Company, as guarantors (the \"Beedie Forbearance Agreement\"), which results in: (i) the provision of a non-revolving term loan to the Company in the principal amount of $2,000,000 (the \"Term Loan\"); and (ii) amends and supplements the credit agreement dated as of July 12, 2024 in respect of the Company's non-revolving debt facility of $20,000,000 (the \"Credit Agreement\"), which includes a forbearance by the agent and lenders under the Credit Agreement whereby the agent and the lenders (including Beedie Capital) agree to forbear from demanding and accelerating repayment of indebtedness outstanding under the Credit Agreement and to forbear from enforcing their security thereunder (collectively, the \"Transaction\").The Term Loan bears interest at a fixed rate of 16.0% per annum calculated and payable monthly in arrears, with: (i) interest at 8% per annum to accrue and be added to the outstanding principal amount of Term Loan for that month (\"PIK Interest\"), and (ii) interest at 8% per annum payable in cash each month. The rate of interest on the existing loan pursuant to the Credit Agreement will be amended to correspond to the rate of interest under the Term Loan, but reducing to 14% (all paid in cash) from April 1, 2026. In addition, the lenders under the Credit Agreement (including Beedie Capital) shall be entitled, upon notice to the Company, but subject to obtaining, if applicable, stock exchange and/or shareholder approval, to elect to convert all or any portion of their respective pro-rata share of the PIK Interest into common shares in the capital of the Company (\"Common Shares\") at a price equal to the Market Price (as defined in TSX policy) of the Common Shares immediately prior to conversion on the Toronto Stock Exchange (\"TSX\"). Subject to the terms of the Beedie Forbearance Agreement and the Credit Agreement, the Term Loan will be due and payable by July 12, 2028 and may be prepaid without penalty or fees at any time prior to March 31, 2026, or ...