07:37 AM EDT, 09/03/2024 (MT Newswires) -- Valeo Pharma Inc ( VPHIF ) . (VPH.TO), a Canadian pharmaceutical company, entered Tuesday into an agreement with Sagard Healthcare Royalty Partners, LP, which amends the Secured Term Loan entered into between the two companies in July 2022.

According to a statement, the facility is amended to provide, among other things, an extension until September 6, 2024 , which date can be extended thereafter for successive one-week periods, at Sagard's sole discretion, for the first $10 million repayment by Valeo, originally scheduled for August 31, 2024. Pursuant to the amendment, and regardless of the extension of the first fepayment, Valeo will make an immediate repayment in an amount equal to US$4.8 million (approx. C$6.5 million) which will reduce the principal amount owed by Valeo on the facility. Other obligations to meet certain minimum liquidity requirements have also been extended to September 30, 2024 .

Al Moghaddam, CEO, in the statement said. "The additional financial flexibility provided should enable us to execute on our plan and advanced ongoing initiatives we are currently working on to optimize our financial situation".