TORONTO, Sept. 27, 2024 /CNW/ - LifeSpeak Inc. (TSX: LSPK) ("LifeSpeak" or the "Company"), a leading provider of mental, physical, and family wellbeing solutions for employers, health plans, and other organizations, announced today that it has entered into a forbearance and amending agreement (the "Forbearance and Amendment") with Beedie Investments Ltd. ("Beedie Capital") to amend the terms of its previously announced credit agreement (as amended from time to time, the "Credit Agreement") dated March 30, 2023 in respect of a non-revolving term convertible loan in the principal amount of $15 million (the "Loan"). Pursuant to the Forbearance and Amendment, Beedie Capital has also agreed to forbear for the time being from demanding immediate repayment of the Loan and taking steps to enforce the security thereunder. Concurrent with the entering into of the Forbearance and Amendment, LifeSpeak has also entered into a forbearance agreement with its senior lenders (the "Senior Lenders Forbearance").
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