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Business Brief

This Company Blog post might contain information, which may constitute ‘forward-looking statements’ within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. ‘Forward-looking statements’ are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.

Any forward-looking information provided in this post should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained below.


 

In regards to the closing of the bridge loan, we want to report that nothing has changed, we are still on track to close on the loan. Only, it did not happen last week, as we previously thought could be done.

We are one of a handful of recipients in a “basket” fund that is secured by assets of multiple investors, and it is therefore more complex than a simple two-party loan or investment deal. With multiple parties involved, requiring all signatures for certain documentation at this final phase, timing for the closing is not entirely predictable. The Easter weekend has also had some impact, it turns out, with certain international communities including certain days last week as well as Monday of this week as a part of the Easter holiday.