Farmers Edge, a pure-play digital agriculture company, entered into an amendment to its secured credit facility with Fairfax Financial Holdings Limited and/or certain of its affiliates. The Facility has been increased by $6.37 million to a principal amount of $81.37 million. The increased amount is being extended on the same terms as the underlying credit agreement, including deferred interest at a rate of 6% per annum and a maturity date of January 31, 2025. The net proceeds of the Facility will be used for working capital and general corporate purposes.

“We deeply appreciate Fairfax's collaboration and support in extending and expanding our credit facility during this transformative phase of our journey,” said Vibhore Arora, CEO of Farmers Edge.

This related party transaction was unanimously approved by the independent directors of the Board of Directors of Farmers Edge, and has been accepted by the Toronto Stock Exchange under section 501(c) of the TSX Company Manual.