D-BOX Announces $1,000,000 Loan under Highly Affected Sectors Credit
September 9, 2021
D-BOX 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-BOX D-BOX redefines and creates realistic, immersive and haptic entertainment experiences by providing whole-body feedback and stimulating the imagination through movement. Haptics essentially allows for sensations that would be perceived if the body were to interact directly with physical objects. This expertise explains why D-BOX has collaborated with some of the world’s best companies to tell captivating stories. Whether it be movies, video games, virtual reality applications, themed entertainment or professional simulators, D-BOX’s mission is to make the world live and vibrate like never before. D-BOX Technologies Inc. (TSX: DBO) is headquartered in Montreal, Canada with offices in Los Angeles, USA and Beijing, China. D-BOX.com.
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Stéphane Vidal Vice President, Marketing and Communication 450-442-3003, ext. 373 email@example.com
David Montpetit Chief Financial Officer – D-BOX Technologies Inc. 450-442-3003, ext. 296 firstname.lastname@example.org
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain information included in this press release may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding the timing, review, completion and filing of the Required Documents, and duration of the MCTO; the future plans, activities, objectives, operations, strategy, business outlook, and financial performance and condition of the Corporation, or the assumptions underlying any of the foregoing. In this press 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, by its very nature, is subject to numerous risks and uncertainties and is based on several assumptions which give rise to the possibility that actual results could differ materially from the Corporation’s expectations expressed in or implied by such forward-looking information and no assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including but not limited to the future plans, activities, objectives, operations, strategy, business outlook and financial performance and condition of the Corporation.
Forward-looking information is provided in this press release for the purpose of giving information about Management’s current expectations and plans and allowing investors and others to get a better understanding of the Corporation’s operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking information for any other purpose.
Forward-looking information provided in this press release is based on information available at the date hereof 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.