MONTREAL, Sept. 07, 2021 (GLOBE NEWSWIRE) — 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.
D-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|
|[email protected]||[email protected]|
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.