Think Research Corporation Announces Amended Credit Facility with Scotiabank and Termination of Agreement with PI Financial

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Amended Credit Agreement with Banque de New Scotland update and align its terms with its existing credit facilities with Beedie Capital.

TORONTO, September 26, 2022 /CNW/ – Think Research Corporation (TSXV: THNK) (“Think“or the”Company“), a health technology company focused on transforming healthcare through knowledge-based digital health software solutions, is pleased to announce that it has entered into an amended credit agreement today ( the “Amended credit agreement“) with The Bank of New Scotland (“SNB“or the”Lender“) which will harmonize terms with its existing credit facilities with Beedie Investments Ltd. (“Beedie CapitaI”).

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The following material elements have been updated in the Amended Credit Agreement:

  • The financial covenants will now comply with the financial covenants of the credit agreement with Beedie Capital;

  • The term loan amortization period was updated from 4 years to 3 years;

  • The first principal repayment date of the term loan has been advanced by one month, from October 31, 2022 at September 30, 2022;

  • If the Company wishes to use the proceeds of the Loan to make acquisitions under the Operating Line of Credit or the Term Loan, it will need to obtain the consent of BNS for acquisitions that would exceed, individually or in the aggregate, $3 million in any twelve month period;

  • A most-favoured-nation clause in favor of BNS has been included which provides that if the Company agrees with Beedie Capital to financial arrangements that are more favorable from the lender’s point of view, the Company will amend the amended credit agreement to bring compliant changes.

Think also announces that, by mutual agreement with PI Financial Corp. (“IP Financial“), PI Financial’s engagement for market making services for the Company will terminate September 30, 2022.

About Think Research Corporation

Think Research Corporation is an industry leader in providing knowledge-based digital health software solutions. The company’s mission is to organize the world’s health knowledge so that everyone receives the best care. Its evidence-based healthcare technology solutions support the clinical decision-making process, standardize care and facilitate better healthcare outcomes. The company gathers, develops and delivers knowledge-based solutions globally to clients that typically include enterprise customers, hospitals, health regions, healthcare professionals and/or governments. The Company has collected a significant amount of data by building its knowledge repository across its network and group of companies, including acquired companies.

Think licenses its solutions to more than 13,000 facilities for more than 300,000 primary care, acute care, and long-term care physicians, nurses, and pharmacists who rely on content and data provided by Think to support their practices. Millions of patients and residents receive better care every year thanks to the essential data that Think produces, manages and delivers.

In addition, the Company collects and manages pharmaceutical and clinical trial data through the BioPharma Services entity that Think acquired on September 10, 2021. BioPharma Services is a leading provider of bioequivalence and Phase 1 clinical research services to pharmaceutical companies worldwide. Think’s other services include a network of primary care clinics and digitally-enabled medical clinics that offer non-emergency surgeries. Visit: www.thinkresearch.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

For more information: https://www.thinkresearch.com/ca/investors/

SOURCEThink Research Corporation

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