07:03 AM EST, 12/31/2024 (MT Newswires) -- LifeSpeak ( LSPKF ) overnight Monday said it signed a forbearance and additional loan agreement with Beedie Investments to make available to the company the second bridge loan that will be used for general working capital purposes.

The agreement also makes certain amendments to the terms of its previously announced credit agreement dated Mar. 30, 2023 related to a non-revolving term convertible loan of $15 million, said the company.

LifeSpeak ( LSPKF ) said as announced on Sept. 27, Beedie had provided the company with a first bridge loan of $2 million. Pursuant to the second forbearance and additional loan agreement, Beedie has agreed to forbear for the time being from demanding immediate repayment of the loan and the first bridge loan and taking steps to enforce the security thereunder, the company added.

Shares of the company closed down $0.01 or 3%, to $0.34 on Monday on the Toronto Stock Exchange.