I went to Sedar to look if there was any factual info on this Bloom Burton raise and did not see anything definitive or worth reporting, just a pretty generic document at this point.

However, I noticed that the 3rd Eye Loan Amendment document had been posted. I don’t recall anyone mentioning this, if they did sorry for the repetition.

There were a couple interesting clauses in the document:

The first was this assertion:

“The Borrower has advised that certain proposed equity investments in shares of the Borrower have been delayed, causing a corresponding delay in the Borrower’s plans to repay, in full, its Obligations under the Loan Agreement”. 

Not sure what this means, I guess could mean many different things or be a generic excuse or relate to today’s raise if there are pre-ordained U.S. investors (although I am very dubious of that).

I also saw that the document has this acknowledgement:

“Acknowledgement of Obligations. The Obligors hereby acknowledge, confirm and agree that as of the close of business on April 26, 2018, the Borrower was indebted to the Agent and Lenders in respect of the Loan Agreement in the amount of $14,536,692.22 (excluding accrued interest)”.

The $14.5 mill balance was somewhat surprising as this was the balance owing on the Jan 31, 2019 financials and on April 1, 2019 RVX raised $15mill. I had assumed $7.5 had been paid against the 3rd Eye Loan, but it appears not if I am correct.

Just some more interesting tidbits.