Enthusiast Gaming expands term credit facility to $20 million

By Mary-Katherine Stinson

Lexington, Ky., Sept. 19 – Enthusiast Gaming Holdings Inc. expanded its existing term credit facility by way of amendment, increasing the size of the facility to $20 million from $10 million, according to a press release.

Together with the company’s $5 million operating facility, the amendment provides the company with access to up to $15 million of incremental non-dilutive capital to use for working capital and general corporate purposes, including the bolstering of cash reserves.

The amendment includes related modifications of certain financial covenants.

The remaining terms, conditions, and covenants of the facility, including the maturity date and security, remain materially consistent with the terms, conditions and covenants prior to the amendment.

Enthusiast Gaming is a Toronto-based integrated gaming entertainment company.

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