Business
PopReach Closes US$7.5 Million Debt Refinancing Facility
PopReach Closes US$7.5 Million Debt Refinancing Facility Canada NewsWire TO...
About this update from Ionik Corporation
[{"type":"text","content":"POPR-DebtRefinancing\n \n \n \n PopReach Closes US$7.5 Million Debt Refinancing Facility\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Oct. 2, 2020\n \n \n \n \n \n New facility positions PopReach with a with a leading Canadian Schedule I Bank to support future growth\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 2, 2020\n \n /CNW/ - (TSXV: POPR) – PopReach Corporation (\"\n \n PopReach\n \n \" or the \"\n \n Company\n \n \"), a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises, is pleased to announce that its wholly-owned subsidiary, PopReach Incorporated, has closed the previously announced\n \n US$7\n \n .5 million senior secured credit facility (the \"\n \n New Facility\n \n \") with a leading Canadian Schedule I Bank (the \"\n \n Lender\n \n \"). Principal terms of the New Facility are set out in the Company's previous press release and available on SEDAR at\n \n www.sedar.com\n \n .\n \n \n With the closing of the New Facility, PopReach has retired its previous credit facility with\n \n US$6.2 million\n \n drawn from its new\n \n US$6.5 million\n \n term facility, maturing in 24 months.\n \n \n \"The closing of this debt facility is an important milestone for PopReach that significantly lowers our cost of capital while providing increased financial flexibility,\" said\n \n Christopher Locke\n \n , President, COO, and Co-Founder of PopReach. \"We are excited that the Lender, after extended due diligence associated with the New Facility, has decided to partner with PopReach with a view towards long-term growth.\"\n \n \n \n Subscribe\n \n to PopReach news alerts.\n \n \n \n About PopReach Corporation\n \n \n \n PopReach, a Tier 1 Technology Issuer on the TSX Venture Exchange, is a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises. The company has acquired 12 successful game franchises competing mainly in the North American game market, including\n \n Smurfs' Village\n \n (IP under license),\n...