September 2, 2026 — Leads & Copy — POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), a company specializing in payment and point-of-sale technology for the cannabis industry, announced it has entered into an amended loan agreement with Perga Capital Partners LP. This agreement refinances the Company’s existing $4.75 million loan.
Under the terms of the amendment, POSaBIT is set to repay $2 million of the principal over the next 18 months. This accelerated principal repayment will also extend the maturity date of the remaining loan balance from March 31, 2028, to March 31, 2030.
Following March 31, 2028, the outstanding balance will be settled through monthly principal and interest payments over a 24-month period concluding on March 31, 2030. Additionally, the interest rate on the loan will be reduced, initially from 12% to 10%, and further decreasing to 9% starting January 1, 2027, until the maturity date.
Ryan Hamlin, Co-Founder and CEO of POSaBIT, stated that the agreement will enable the company to significantly reduce its debt while also lowering the cost of the remaining loan and extending its repayment timeline. He added that this provides a clear strategy for managing the obligation and maintaining greater financial flexibility to pursue profitable growth.
POSaBIT anticipates that the combination of the scheduled principal reduction, the lower interest rate, and the extended maturity will enhance the company’s debt profile and decrease the ongoing cost associated with the loan. The company will also retain the option to make additional principal payments ahead of schedule.
The amended agreement with Perga, which is considered a related party transaction under Multilateral Instrument 61-101, will be exempt from the formal valuation and minority shareholder approval requirements outlined in the instrument. Exemptions were granted under Sections 5.5(b) and 5.7(1)(f) of MI 61-101.
POSaBIT is a FinTech company operating exclusively within the cannabis sector, offering a comprehensive Point-of-Sale solution and serving as a leading cashless payment provider for cannabis retailers. The company focuses on developing advanced financial services and transaction methods, incorporating AI-driven software and technology to provide safe and compliant services for merchants in a predominantly cash-only industry.
Source: POSaBIT Systems Corporation
