HeartSciences' Merger Partner Fortitude Upsizes DCG Credit Facility to $50 Million

MT Newswires Live
Sep 24

HeartSciences (HSCS) proposed merger partner Fortitude Mining has amended its existing credit facility with Digital Currency Group, Fortitude's parent company, increasing the aggregate commitment to $50 million from $26 million, Fortitude said late Wednesday.

Along with approximately $7 million remaining under the initial commitment, Fortitude now has about $31 million of remaining borrowing capacity, subject to the terms of the DCG credit facility.

Fortitude plans to use borrowings from the DCG credit facility for Zcash mining machine purchases, mining facility acquisitions, greenfield construction and infrastructure expansion.

The amendment also allows DCG the option to fund future loans in Zcash rather than cash, with such Zcash loans to be denominated and repayable in dollars, the company added.

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