Business
CALLAWAY CAPITAL MANAGEMENT COMPLETES ITS INITIAL US$10 MILLION CLOSING OF US$40 MILLION STRATEGIC FINANCING WITH REVOLVE RENEWABLE POWER CORP.
Callaway Capital Management, LLC ("Callaway" or the "Lender") is pleased to announce the initial closing (the "Initial Closing") of the $10 million in loans contemplated by that certain secured convertible credit agreement dated February 5, 2026 (the "Credit Agreement") with Revolve Renewable Power Corp. ("Revolve" or the "Company"), a North American owner, operator and developer of renewable energy projects. The Credit Agreement provides for up to US$40 million of financing from Callaway. The I
About this update from Revolve Renewable Power Corp
[{"type":"text","content":"VANCOUVER, BC, Feb. 23, 2026 /CNW/ - Callaway Capital Management, LLC ("Callaway" or the "Lender") is pleased to announce the initial closing (the "Initial Closing") of the $10 million in loans contemplated by that certain secured convertible credit agreement dated February 5, 2026 (the "Credit Agreement") with Revolve Renewable Power Corp. ("Revolve" or the "Company"), a North American owner, operator and developer of renewable energy projects. The Credit Agreement provides for up to US$40 million of financing from Callaway. The Initial Closing consisted of a $10 million first tranche ("Tranche A") draw subject and pursuant to the terms and conditions set forth in the Credit Agreement.","length":775,"tagName":"p"},{"type":"text","content":"Strategic Financing Highlights","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"US$40 million secured Credit Agreement, structured in two tranches of US$20 million each.","length":89,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"The Tranche A consists of a US$10 million Initial Closing advance, with the remaining US$10 million drawable monthly as needed for qualified purposes, subject to customary conditions set out in the Credit Agreement.","length":220,"tagName":"p"}]},{"val":[{"type":"text","content":"The second tranche ("Tranche B") will be made available to the Company during the term subject to certain conditions specified in the Credit Agreement.","length":161,"tagName":"p"}]},{"val":[{"type":"text","content":"Tranche A is convertible, at the option of the Lender, into common shares of the Company (the "Common Shares") at a conversion price of CAD$0.28 per Common Share.","length":172,"tagName":"p"}]},{"val":[{"type":"text","content":"Tranche B is convertible, at the option of the Lender, into Common Shares at a conversion price of CAD$0.40 per Common Share.","length":125,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":678,"olType":false}]},{"val":[{"type":"text","content":"Four-year term.","length":15,"tagName":"p"}]},{"val":[{"type":"text","content":"15% payment in kind (PIK) interest, capitalized monthly and accrued until maturity or conversion, with PIK interest convertible at the Lender's option at...