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VANCOUVER, BC, April 12, 2022 /CNW/ - Freshlocal Solutions Inc. (TSX: LOCL) (OTC: FLOCF) ("Freshlocal" or the "Company") is pleased to announce that it has entered into a loan and security agreement (the "Loan Agreement") with a group of strategic lenders (collectively, the "Lenders"), pursuant to which the Lenders have agreed to advance $7,000,000 (the "Loan") to Freshlocal, to support the Company's ongoing financial and operational transformation, and to ultimately replace Silicon Valley Bank (the "Bank") as the Company's senior lender. The proceeds of the Loan will be used to immediately repay a portion of the Company's existing loan with the Bank and to fund operations.