Impact Development Group Inc. (TSXV: IMPT) has announced the amendment of the terms of an existing loan with DC Investment Fund (DCIF) and its subsidiary Impact Housing Corporation (IHC). The loan, which now matures on March 31, 2026, has an amended interest rate of 12 percent per annum.
In consideration for amending the loan, Impact Development Group has issued 92,025 common shares to DCIF. This move is part of the company’s commitment to maintaining a strong balance sheet and increasing its flexibility for long-term growth.
Under the amended terms, IHC will make quarterly payments of accrued interest to DCIF until March 31, 2026, when the outstanding principal will become due. The current outstanding principal under the loan is USD$1,461,495.
Impact Development Group and DCIF are unrelated entities, and DCIF has no present interest in the company or its securities, other than the bonus shares. The loan amendment allows Impact Development Group to address its debt maturities and interest rates, ensuring a solid financial foundation for future operations.
Impact Development Group is a leading Panamanian developer of affordable housing solutions, supported by a longstanding subsidized government program. The company’s vertically integrated model coordinates all services necessary for the development of high-quality residential and commercial buildings, including land acquisition, financing, architectural and engineering services, off-site manufacturing, general contracting, property management, and administration.
For further information, please contact Tom Wenz, Chief Executive Officer and Director at Impact Development Group Inc., via phone at +1 (406) 370-2603 or email at twenz@ihcpanama.com.