Earthworks Industries Inc. (TSE:EWK) has released an update.
Earthworks Industries Inc. has amended its payment agreement with North Bay, extending the deadline to November 15, 2024, for the reduced Buy-Out Amount of $US 1,650,000, after settling $US 500,000 through equity. Interest will accrue at 10% per annum, with full payment, including accrued interest, due by the new deadline. This financial maneuver provides Earthworks Industries with additional time to manage its capital obligations while offering North Bay equity incentives.
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