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CareRx Closes New Credit Agreement with National Bank of Canada

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CareRx (CRRX.TO) has closed a new credit agreement with National Bank of Canada, the pharmacy services provider said Thursday.

The agreement includes a senior secured revolving operating facility worth up to C$20 million, a senior secured term loan worth up to C$40 million, and a senior secured facility worth up to C$10 million.

CareRX said it can increase the principal amount of the revolving facility and senior secured facility by up to an aggregate of C$20 million.

"The new credit agreement will strengthen our balance sheet, lower our overall cost of capital, and give us dedicated capacity to invest in the business," CEO Puneet Khanna said.

Price: $3.23, Change: $+0.03, Percent Change: +0.94%

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