Lab-grown diamond manufacturer Scio Diamond Technology Corp. said that its credit facility—whose deadline had previously come due—has been extended.
“The extension puts Scio Diamond in good standing on all terms and conditions of its credit facility,” said CFO Jonathan Pfohl in a statement. “The extension shows their confidence in management and the company’s direction.”
In addition, three members of its board directors, including chairman Bern McPheely, have made equity investments.
“These investments show strong confidence by our board in our current business plan, performance against goals, and strategic direction,” said Gerald McGuire, Scio Diamond president and CEO.