D-BOX Announces $1,000,000 Loan under Highly Affected Sectors Credit Availability Program
07 September 2021 - 10:30PM
D-BOX Technologies Inc. (“D-BOX” or the “Corporation”) (TSX: DBO),
a world leader in haptic and immersive entertainment experiences,
announced today the closing of a loan with the National Bank of
Canada (“NBC”) in connection with the Highly Affected Sectors
Credit Availability Program (“HASCAP”) offered by the Business
Development Bank of Canada (“BDC”).
The loan is a $1,000,000 non-revolving credit
facility based on a 10-year straight line amortization period with
an interest rate of 4% and a maturity date of September 7, 2024
(the “HASCAP Loan”). The proceeds of the HASCAP Loan will be used
for working capital needs to continue to support D-BOX’s commercial
growth initiatives. Repayment terms for the HASCAP Loan are
interest only for the first year, and principal plus interest for
the remaining years. The HASCAP Loan is secured by first-ranking
hypothec and security interests on all assets of the Corporation
and its U.S. subsidiary and is guaranteed by the BDC.
ABOUT D-BOXD-BOX creates and
redefines realistic, immersive entertainment experiences by moving
the body and sparking the imagination through effects: motion,
vibration and texture. D-BOX has collaborated with some of the best
companies in the world to deliver new ways to enhance great
stories. Whether it’s movies, video games, music, relaxation,
virtual reality applications, themed entertainment or professional
simulation, D-BOX creates a feeling of presence that makes life
resonate like never before. D-BOX Technologies Inc. (TSX: DBO) is
headquartered in Montreal with offices in Los Angeles, USA and
Beijing, China. Visit D-BOX.com.
FOR FURTHER INFORMATION, PLEASE
CONTACT: |
|
D-BOX TECHNOLOGIES INC. |
Stéphane Vidal |
David Montpetit |
Vice President, Marketing and Communication |
Chief Financial Officer |
450-442-3003, ext. 373 |
450-442-3003, ext. 296 |
svidal@d-box.com |
dmontpetit@d-box.com |
CAUTION REGARDING FORWARD-LOOKING
INFORMATION
This news release contains statements that may
constitute “forward-looking information” within the meaning of
applicable Canadian securities legislation. Forward-looking
information may include, among others, statements regarding the
future plans, activities, objectives, operations, strategy,
financial performance and condition of the Corporation, or the
assumptions underlying any of the foregoing. In this news release,
words such as “may”, “would”, “could”, “will”, “likely”, “believe”,
“expect”, “anticipate”, “intend”, “plan”, “estimate” and similar
words and the negative form thereof are used to identify
forward-looking statements. Forward-looking statements should not
be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether, or the times at
or by which, such future performance will be achieved.
Forward-looking information is based on information available at
the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond the Corporation’s control.
These risks, uncertainties and assumptions
include, but are not limited to, those described under “Risk
Factors” in the Corporation’s Annual Information Form for the
fiscal year ended March 31, 2021, a copy of which is available on
SEDAR at www.sedar.com, and could cause actual events or results to
differ materially from those projected in any forward-looking
statements. The Corporation does not intend, nor does the
Corporation undertake any obligation, to update or revise any
forward-looking information contained in this news release to
reflect subsequent information, events or circumstances or
otherwise, except if required by applicable laws.
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