Target Group Inc. (CBDY): debt financing — Target Group Inc. receives additional $250,000 loan from CEO's brother at 43.26% annual interest

Target Group Inc.

Seventh Amending Agreement dated Feb 16, 2023; lender is brother of CEO Anthony Zarcone.
Additional advance of $250,000; maturity extended to June 1, 2023.
Interest rate 3.0416% per month (43.26% per annum); $25,000 lender's fee deducted from advance.
Original loan terms remain in effect; this is a related-party transaction.

item 2.03

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Target Group Inc. incurred loan of US250,000.00 at 3.0416% per month maturing June 1, 2023.

Instrument: loan
Principal: US250,000.00
Rate: 3.0416% per month
Maturity: June 1, 2023
Event: incurrence

Exact text from the filing

Effective February 16, 2023, the Company and Lender entered into a Seventh Amending Agreement pursuant to which the Lender advanced the Company an additional US250,000.00 ("Advance") under the Original Loan. . The maturity date of the Original Loan is extended to June 1, 2023. The Original Loan and the Advance carries interest at the rate of 3.0416% per month (43.26% per annum).

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Source: SEC EDGAR

accession 0001104659-23-024248

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