- 01
People Can Fly Canada Inc. has signed a letter of intent with the Bank of Montreal for 9.2 million CAD in demand revolving credit facilities.
- 02
The financing package allocates 8 million CAD specifically to bridge anticipated Canadian tax credits and 1.2 million CAD for general working capital.
- 03
Parent company PCF Group S.A. will serve as the full guarantor for the 9.2 million CAD debt facility.
- 04
The credit arrangement is intended to optimize capital structure and support the studio's ongoing operations in North America.
- 05
Finalization of the credit documentation is targeted for approximately May 30, 2023, following the initial agreement reached on May 1, 2023.
- 06
The agreement remains subject to final contract execution, which is not guaranteed by the current letter of intent.