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/R E P E A T -- Martello Secures $3 Million in Loan Facilities from Royal Bank of Canada (RBC)/
/R E P E A T -- Martello Secures $3 Million in Loan Facilities from Royal Bank of Canada (...
About this update from Martello Technologies Group, Inc.
[{"type":"text","content":"\n\n\n\n/R E P E A T -- Martello Secures $3 Million in Loan Facilities from Royal Bank of Canada (RBC)/\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, Nov. 2, 2018\n\n\n\nFinancing from leading Canadian commercial lender closed in conjunction with the acquisition of Savision\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n OTTAWA, Nov. 2, 2018 /CNW/ - Martello Technologies Group Inc. (TSXV: MTLO), (\"Martello\" or the \"Company\"), a leading provider of network performance management solutions for real-time communications announced today that it has closed a financing with Royal Bank of Canada (RBC) for new loan facilities through its subsidiary Martello Technologies Corporation (the \"Loan\"). The financing includes a term loan of $3 million, in conjunction with the acquisition of Savision B.V.\n\n \n \n\n \nThis new financing is comprised of a term loan, a revolving facility and other ancillary facilities. The term loan of $3 million bears an interest rate of 5.40% per annum and is repayable over a term of 36 months. The revolving facility, in the amount of up to $1 million, bears a variable interest rate based on the RBC prime rate and is repayable on demand. \nThe facilities are secured by a general security agreement on the property of Martello Technologies Corporation, a subsidiary of the Company, as well as secured guarantees from five other subsidiaries of the Company and the Company itself. \n\"This loan facility from Royal Bank of Canada will solidify our foundation for growth and help fuel Martello's 'build and buy' strategy, which includes the acquisition of Savision\", said John Proctor, president and CEO of Martello. \"We appreciate the confidence placed in us by one of Canada's largest commercial lending institutions\".\nRecent acquisition activities for Martello include the acquisition of Savision B.V. announce...