D-BOX Technologies Announces Amendments to Loan Facilities

October 17, 2023

D-BOX Technologies Announces Amendments to Loan Facilities with National Bank of Canada and the Business Development Bank of Canada


Increased limit, lower interest rate, and extended terms provide greater flexibility

Montréal, Québec, October 16, 2023 – D-BOX Technologies Inc. (“D-BOX” or the "Corporation") (TSX: DBO) a world leader in haptic and immersive entertainment, today announced it had entered into amending agreements relating to its loan facilities with the National Bank of Canada (“NBC”), via its Technology and Innovation Banking Group, and the Business Development Bank of Canada (“BDC”), providing for, among other things:

  • An upsize of its operating line of credit with NBC from CAD$4 million to CAD$5.5 million, a reduction of the applicable interest rates for CAD and USD loans by 75 basis points from prime plus 3.25% to prime plus 2.50% and certain changes to the Corporation’s financial covenants;
  • An extension of the maturity of the CAD$1 million term loan entered into in September 2021 with NBC and guaranteed by the BDC as part of the Highly Affected Sectors Credit Availability Program, from September 7, 2024, to September 30, 2025;
  • An extension of the maturity of the CAD$2 million term loan entered into in July 2020 with the BDC, from June 2026 to June 2028.

The upsized line of credit will be secured by first-ranking hypothec and security interests on all movable/personal property of the Corporation and its U.S. subsidiary and a guarantee from Export Development Canada. A portion of the available proceeds from upsizing the line of credit was used to fully repay the CAD$1 million term loan with NBC that was scheduled to mature in February 2024 and that had a balance of approximately CAD$870,000.

“These favourable amendments are a testament to D-BOX's solid financial performance in the recent quarters and the confidence shown by our valued financial partners,” said David Montpetit, Chief Financial Officer of D-BOX. “A special thank you to the Economic Development Agency of Canada for helping us secure the amendments to our line of credit. The upsizing of our line of credit and the extended maturities on our term loans provide greater flexibility in our treasury management while reducing our financial cost. These changes better position us as we continue to focus on building royalty-based revenue and driving profitable growth.”

“Our Group is a staunch ally of companies in the technology and innovation sectors,” said Maxime Page, Director, Technology and Innovation Banking at NBC. “We believe in the growth potential of D-BOX as well as in their business strategy, and are pleased to support them in their future projects.”



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, metaverse experience, 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



Certain information included in this press release 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, business outlook, and financial performance and condition of the Corporation, or the assumptions underlying any of the foregoing. In this document, 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 document 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.

The risks, uncertainties and assumptions that could cause actual results to differ materially from the Corporation’s expectations expressed in or implied by the forward-looking information include, but are not limited to, the ability to increase royalty-based revenue and generate profitable growth. These and other risk factors that could cause actual results to differ materially from expectations expressed in or implied by the forward-looking information are discussed under “Risk Factors” in the Corporation’s annual information form for the fiscal year ended March 31, 2023, a copy of which is available on SEDAR+ at

Except as may be required by Canadian securities laws, the Corporation does not intend nor does it undertake any obligation to update or revise any forward-looking information contained in this press release to reflect subsequent information, events, circumstances or otherwise.

The Corporation cautions readers that the risks described above are not the only ones that could have an impact on it. Additional risks and uncertainties not currently known to the Corporation or that the Corporation currently deems to be immaterial may also have a material adverse effect on the Corporation’s business, financial condition or results of operations.



David Montpetit
Chief Financial Officer, D-BOX Technologies Inc.

Trevor Heisler
Vice President Investor Relations, MBC Capital Markets Advisors

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