CLARIFICATION: Evome Medical Technologies Announces Significant Debt Restructuring
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E-mailSHIRLEY, N.Y., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Evome Medical Technologies Inc. (the “Company”) (TSXV: EVMT) issued a press release on Monday, February 10, 2025 announcing the details of an amendment (the “Amendment”) to the forbearance agreement dated August 4, 2023 between the Company, Biodex Rehab Systems, LLC (“Biodex Rehab”), a wholly owned subsidiary of the Company, and Biodex Medical Systems, Inc. (“Biodex Medical”), a wholly owned subsidiary of Biodex Rehab, and Mirion Technologies (US), Inc. (“Mirion”).
The Company clarifies that the reduction of debt as a result of the Amendment from $6.7 million due in July 2025 to $4.25 million due in April 2030 is subject to, and conditional on, the timely payment of monthly payments, beginning July 2024 and concluding in April 2030.
In exchange, Biodex Medical has committed to extending the term of the contract manufacturing agreement (the “CMA”) dated April 3, 2023 between Biodex Medical Systems, Inc. and Mirion Technologies (Capintec), Inc., an affiliate to Mirion, by one year and producing and delivering a guaranteed quantity of Mirion's products under the current CMA until the end of March 2026 or sooner if Mirion is successful in transitioning the CMA to a new manufacturer.
For more information please contact:
Mike Seckler
Chief Executive Officer
Tel: 1 (800) 760-6826
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Evome Medical Technologies Inc.
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