Business
Neptune Approved for up to US$20 Million (28.6M CAD) Credit Facility for Growth
Vancouver, British Columbia--(Newsfile Corp. - January 21, 2025) - Neptune Digital Assets Corp. (...
About this update from Neptune Digital Assets Corp
[{"type":"text","content":"Neptune Approved for up to US$20 Million (28.6M CAD) Credit Facility for GrowthVancouver, British Columbia--(Newsfile Corp. - January 21, 2025) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE: 1NW) (\"Neptune\" or the \"Company\"), one of the first publicly traded blockchain companies in Canada, is pleased to announce that it has established a strategic borrowing relationship with Sygnum, a global digital asset banking group. Neptune has been approved for a credit facility of up to US$20 million.The Company intends to use the funds to expand and purchase Bitcoin and other crypto-related assets, in addition to supporting strategic investments. The loan will be secured against the Company's Bitcoin holdings.\"We are thrilled to secure this growth capital through our collaboration with Sygnum Bank. The loan is structured to give us ample flexibility while maintaining Swiss banking protections over the Bitcoin collateral. At this pivotal stage in our development, the US$20 million positions us to expand our digital asset portfolio, pursue strategic investments, and strengthen our balance sheet - without diluting shareholders through equity issuance,\" stated Cale Moodie, Neptune's CEO.\"We are excited to support Neptune in expanding its broad digital asset portfolio\" said Benedikt Koedel, Head of Credit and Lending at Sygnum Bank. \"With this collaboration, we continue to support the growth of the crypto ecosystem in a secure and regulated environment.\"For more information on Neptune Digital Assets, please visit: www.neptunedigitalassets.comAbout SygnumSygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. Sygnum empowers professional and institutional investors, banks, corporates and digital ledger technology (DLT) foundations to invest in digital assets with complete trust. The team enables this through our institutional-grade security, expert personal service and a portfolio of regulated digital asset banking, asset management, tokenization and B2B services. In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg and is registered in Liechtenstein. Sygnum's crypto-native team of banking, investment and digital asset technology pr...