Trius Loan to Revive Superfoods to be Partially Repaid Early
FREDERICTON, New Brunswick, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Trius Investments Inc. (TSXV: TRU) (“Trius” or the “Company”) is pleased to announce that it has entered into an amendment (the “Amendment”) to the secured promissory note (the “Loan”) advanced to Revive Organics Inc. (“Revive Superfoods”) as previously announced on March 20, 2020.
Pursuant to the Amendment, Revive Superfoods shall repay not less than $500,000 of the outstanding principal amount of the Loan to Trius early, in five equal monthly installments beginning in November 2020. In addition, certain contingent one-time payments contemplated in the Loan have been waived by Trius.
Trius President and CEO Joel Freudman commented: “We’ve been very pleased as a lender and partner to Revive Superfoods, and couldn’t have hoped for a better company to lend to – all interest payments have been made promptly, their management team keeps us in the loop with financial disclosure and general operational updates, and commercially their business has taken off this year. We’re glad to remain their primary lender while the rest of the Loan remains outstanding until March 20, 2021, and meantime, we’ll evaluate how best to redeploy these early repayments into other promising opportunities, including our burgeoning Newfoundland Gold Exploration portfolio segment.”
Revive Superfoods operates in the dynamic ready-to-eat meals industry, and has generated rapidly growing revenues while expanding its offerings across North America. Revive Superfoods offers a subscription service that delivers ready-to-blend smoothies and other healthy prepared meals right to consumers’ doors, with operations in Canada and the United States. Revive Superfoods’ website is accessible at https://revivesuperfoods.com.
Revive Superfoods CEO Yousuf Soliman added: “The Loan from Trius has really helped us scale up our business this year, and as we continue to drive strong sales and cashflow growth, we decided it would be prudent capital management for us to start repaying the Loan balance before maturity.”
About Trius Investments Inc.
Trius seeks unique value-creation opportunities, currently increasing its exposure to the precious metals sector by assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. Trius’ common shares trade on the TSXV under the symbol “TRU”.
Trius is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
President & CEO
Trius Investments Inc.
Phone: (647) 880-6414
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All information contained in this press release with respect to Trius and Revive Superfoods was supplied by the respective parties for inclusion herein, and each party has relied entirely on the other party for any information concerning the other party. Trius does not assume any responsibility for the accuracy or completeness of the information provided by Revive Superfoods. The link to Revive Superfoods’ website was included herein for general reference purposes only, and the content on such website is expressly not incorporated into this press release by reference.
This press release includes statements containing forward-looking information that reflect the current views and/or expectations of management of Trius and Revive Superfoods, as applicable, including but not limited to those relating to repayment of the Loan in accordance with the Amendment and upon maturity, and Trius’ future investments. Statements containing forward-looking information are not guarantees of future performance and involve risks, uncertainties and assumptions, which are difficult to predict, and which are outside of Trius’ control, including repayment risk and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. Neither Trius nor Revive Superfoods undertakes any obligation to update any forward-looking statements herein except as required by applicable securities laws.