BuzzFeed indirectly assumes $4.8M debt of Girls Like Girls Film Inc. via majority acquisition

BuzzFeed, Inc.

BuzzFeed subsidiary acquired majority stake in Girls Like Girls Film Inc., assuming ~$4.8M (CAD $6.6M) in debt.
Debt is secured and required to be repaid from distribution proceeds (Focus Features) and production tax credits within 12 months.
Two BuzzFeed subsidiaries (BuzzFeed Studios Canada, Lexland Studios) agreed to guarantee the obligations.
Borrower also has a $0.4M foreign exchange line of credit with Royal Bank of Canada, currently undrawn.
Original credit facilities provided by RBC total up to ~$6.6M; assumed debt is part of existing borrowing.

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