Scio Diamond announces debt restructuring

By July 11, 2017Local News

The company, which makes synthetic diamonds for the gemstone and industrial markets, will receive relief on interest payments and be given access to additional funding from its creditor.

Scio Diamond Technology Corporation today announced that it has restructured its debt with Heritage Gemstone Investors. The new agreement includes the benefits of an extended maturity date, relief on interest payments, and access to additional funding, the company said.

Under the terms of the agreement, Scio Diamond Technology Corporation’s note maturity has been extended one year to December 2018. The company, which makes synthetic diamonds for the gemstone and industrial markets, will receive relief on interest payments and be given access to additional HGI funding, said the company.

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