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Farmers Edge Announces C$75 Million Loan From Fairfax Financial Holdings Limited

Mar 25, 2022•over 3 years ago

Amount Raised

$75 Million

Winnipeg

Description

Farmers Edge Inc. (“Farmers Edge” or the “Company”) (TSX: FDGE), a global leader in digital agriculture, today announced that it has entered into a C$75 million secured credit facility (the “Facility”) with Fairfax Financial Holdings Limited and/or certain of its affiliates (collectively, “Fairfax”) pursuant to the terms of a binding term sheet. The Facility will bear interest at a rate of 6% per annum and will mature on January 31, 2025. Farmers Edge will pay an annual commitment fee of 1% of the total undrawn amount, with C$750,000 payable upon closing of the transaction and the next payment being due one year thereafter

Company Information

Company

Farmers Edge

Location

Winnipeg, Manitoba, Canada

About

Farmers Edge is a global leader in digital agriculture revolutionizing the industry with a broad portfolio of proprietary technological innovations, spanning hardware, software, and services. Powered by a unique combination of connected field sensors, artificial intelligence, big data analytics, and agronomic expertise, the Company's digital platform turns data into actions and intelligent insights, delivering value to all stakeholders of the agricultural ecosystem. Farmers Edge disruptive technologies accelerate digital adoption on the farm and beyond, protecting our global resources and ensuring sustainable food production for a rapidly growing population. For more information, please visit www.farmersedge.ca and SEDAR (www.sedar.com).

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