11:04 AM EDT, 05/30/2025 (MT Newswires) -- NowVertical Group ( NOWVF ) on Friday said it sealed an agreement with HSBC to access up to US$18 million in credit facilities, which may be increased to US$26 million.

The facilities consist of a US$6 million term loan, which matures in five years, and a US$12 million revolving facility with an initial 3-year term, which may be extended for up to an additional two years. This facility may be increased to US$20 million, subject to HSBC's consent.

"This financing agreement is truly transformational for NowVertical ( NOWVF )," said Chief Executive Sandeep Mendiratta. "It simplifies our capital structure by consolidating debt previously spread across multiple lenders into a single, long-term facility with significantly improved terms."

The company's shares were last seen up $0.01 to $0.55 on the TSX Venture Exchange.

Price: 0.55, Change: +0.01, Percent Change: +1.85