Think Research receives bridge loan

TORONTO — Think Research Corporation, a company focused on digital health software solutions, has obtained $1.5 million non-convertible loan from Beedie Investments Ltd., pursuant to its existing credit agreement with Beedie Capital dated as of April 22, 2022.

Think intends to use the proceeds of the loan for general and working capital purposes. The loan is a separate facility from the $25 million convertible facility with Beedie Capital that was previously announced on April 25, 2022. Although the company has partially drawn upon the convertible facility, the company chose to obtain this loan to avoid dilution that may otherwise occur by drawing down the convertible facility.

The loan is provided pursuant to the credit agreement and a third amendment agreement thereto which sets out the terms and conditions.

A commitment fee shall be payable by Think to Beedie Capital, which fee shall be added to the principal amount of the Loan.

The loan, together with all outstanding and unpaid interest thereon shall be due and payable on September 20, 2024.

Think may make a voluntary prepayment in whole of the loan at any time upon prior notice by paying to Beedie Capital the outstanding principal amount of the loan, together with any unpaid interest and, if the prepayment occurs on or prior to the date that is three months following the date of advance of the loan, a make-whole fee.