From Investing.com:

Farmers Edge Inc. has increased its secured credit facility by $12 million, reaching a total of $93.37 million, with an interest rate of 6% and a maturity date of January 31, 2025. The additional funding will be used for working capital and general corporate purposes.

The amended facility has been unanimously approved by the independent directors on the Board of Directors and accepted by the Toronto Stock Exchange according to its Company Manual.

Farmers Edge Inc. is a company based in Winnipeg, Manitoba, known for its digital agriculture advancements and technologies such as hardware, software, and service solutions. These innovations aim to optimize agricultural operations through connected field sensors, artificial intelligence, and big data analytics.

InvestingPro Insights reveals that Farmers Edge Inc. (TSX: FDGE) has a market cap of $10.64 million and Q3 2023 revenue of $19.51 million, experiencing a decline of over 25%. The company also faces significant debt and negative gross profit margins, but the additional credit facility could offer much-needed liquidity.

Despite stock price volatility, Farmers Edge has seen a 161.54% return in the last three months. However, potential investors should stay informed on the latest metrics and trends. An InvestingPro+ subscription offers detailed analysis and tips, available on a special New Year sale with up to 50% off, with additional discounts using specific coupon codes.



Read more: Farmers Edge expands credit facility to $93.37 million By Investing.com