12:12 PM EDT, 04/02/2025 (MT Newswires) -- Replenish Nutrients Holding ( VVIVF ) on Wednesday said it arranged a $2.5-million revolving credit facility to support the completion of upgrades to the company's Beiseker, Alberta, granulation facility.

The lender previously provided a $750,000 revolving credit facility.

The facility has a one year term, provides for interest only payments and bears interest at a rate of prime +12%, secured by company's assets.

The lender has also provided a $200,000 receivable factoring loan pursuant to a spot factoring agreement, providing for interest only payments, bearing interest at a rate of 2% per month.

Proceeds will be used to complete final upgrades to the company's Beiseker granulation facility, inventory purchases and other working capital requirements.

In addition, the company intends to complete a non-brokered private placement of share units priced of $0.08 per unit for gross proceeds of a minimum of $700,000 and a maximum of $1 million.

As part of the offering, the company will settle debt related to trade accounts payable of up to $590,000 owed to certain of its creditors in consideration for the issuance of approximately 7.35 million units.

The company's shares were last seen down $0.005 to $0.085 on the Canadian Securities Exchange.