MindWalk Holdings Secures $30 Million Credit Facility from Sanabil

MindWalk Holdings Corp. entered into a binding commitment with Sanabil (Cayman) for a senior unsecured revolving credit facility of up to US$30 million. The company will use the funds to support its biologics programs, commercial expansion, working capital, and general corporate purposes.

The facility carries a fixed annual interest rate of 7.00% with an initial 36-month term and a possible 12-month extension. The agreement contains no financial maintenance covenants, warrants, or equity conversion features, and does not require the company to pledge assets.

CEO Jennifer Bath stated that the company chose debt over equity because it was not prepared to raise capital of this size at the current share price. She noted that the structure ensures the full benefit of the company's plan remains with current shareholders without issuing new shares. The two parties intend to close the definitive credit agreement within 60 days.