Feronia announces missed loan payment
TORONTO, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Feronia Inc. (“Feronia” or the “Company”) (FRN.V) announces that its operating subsidiary, Plantations et Huileries du Congo, did not make its scheduled semi-annual principal and interest payment of US$4.2 million due September 14, 2019 under its secured term debt facility with a syndicate of European Development Finance Institutions (DFIs) entered into on December 21, 2015.
With the aim of improving its financial resources, management is in on-going discussions with the DFI lenders and its major shareholders and is reviewing various short and long term financial alternatives.
