Brief: CTI Industries Says On Aug 1, PNC Bank, National Association Sent A Notice Of Default And Reservation Of Rights Communication To Co

Yunhong Green Cti

07/08/2019 12:46

Aug 7 (Reuters) - CTI Industries Corp  CTIB.O :
    * CTI INDUSTRIES - ON AUG 1, PNC BANK, NATIONAL ASSOCIATION
SENT A
NOTICE OF DEFAULT AND RESERVATION OF RIGHTS COMMUNICATION TO CO
    * CTI INDUSTRIES - PNC GAVE NOTICE TO CO THAT FORBEARANCE
PERIOD
ENDED ON JULY 31 IN ACCORDANCE WITH AMENDMENT.
    * CTI INDUSTRIES - PNC IS ENTITLED TO EXERCISE IMMEDIATELY
ALL OF
ITS RIGHTS AND REMEDIES UNDER THE LOAN AGREEMENT
    * CTI INDUSTRIES - AMOUNT OWED BY CO TO PNC IS ABOUT $16
MILLION

Source text: (https://bit.ly/33igs4q)
Further company coverage:  CTIB.O 

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