Home Coffee industry SWISS WATER announces an increase in the senior debt covenant to USD...

SWISS WATER announces an increase in the senior debt covenant to USD 65 million


Vancouver, British Columbia –News Direct– Swiss Water Decaffeinated Coffee Inc.

Swiss Water Decaffeinated Coffee Inc.

VANCOUVER, BC, April 22, 2022 / TheNewswire / Swiss Water Decaffeinated Coffee Inc. (TSX:SWP) (“Swiss Water” or “the Company”) is pleased to announce as part of its continued commitment to implement efficient and flexible financial solutions In order to meet the working capital requirements arising from the rapid growth and fluctuations in coffee prices, Swiss Water Decaffeinated Coffee Inc. has entered into an agreement with Mill Road Capital II, LP to modify the terms of the subordinated debenture held by Mill Road. The amendment increases the authorized amount of senior debt that can be incurred by Swiss Water from $60 million to $65 million, with no costs incurred for the amendment.

Swiss Water continues to evaluate opportunities to raise new capital to support its long-term strategic objectives, including enhancing its hedging program, working capital and long-term debt facilities, and reviewing other financing alternatives.

Company profile

Swiss Water Decaffeinated Coffee Inc. is a leading specialty coffee company and premium green coffee decaffeinator that uses the proprietary SWISS WATER® process to decaffeinate green coffee without the use of chemicals. It also owns Seaforth Supply Chain Solutions, a green coffee handling and storage company. Both companies are located in the cities of Burnaby and Delta, British Columbia.

For more information please contact:

Iain Carswell, Chief Financial Officer

Swiss Water Decaffeinated Coffee Inc.

Phone: 604.420.4050

Email: [email protected]

Website: investor.swisswater.com

Forward-looking statements:

Certain statements in this press release may constitute “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause results, levels of activity, performance or achievements actual results may differ materially from the results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, these statements may include words such as “may”, “will”, “expect”, “believe”, “plan” and other similar terms. These statements reflect management’s current expectations regarding future events and operating performance, and management’s current estimates, but are based on numerous assumptions and may prove to be incorrect. These statements are not promises or guarantees, but involve known and unknown risks and uncertainties, including, but not limited to, risks relating to processing volumes and sales growth, results of operations , utility supply, coffee supply, general industry conditions, commodity price risks, technology, competition, exchange rates, construction schedule, capital project costs and funding, a potential impact of the COVID-19 pandemic and general economic conditions.

The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by applicable securities law, Swiss Water Decaffeinated Coffee Inc. undertakes no obligation to publicly update or revise these statements to reflect any change in management’s expectations or in events, conditions or circumstances on which such statements may be based. , or which may affect the likelihood that actual results will differ from those described herein.

See the source version on newsdirect.com: https://newsdirect.com/news/swiss-water-announces-rise-of-senior-debt-covenant-to-65-million-471455361