TeraGo Announces Extension to its Credit Agreement

TORONTO , June 21, 2021 /CNW/ - TeraGo Inc. ("TeraGo" or the "Company ") (TSX: TGO) ( www.terago.ca ), today announced that an amending agreement (the " Amending Agreement ") was entered into between TeraGo Networks Inc., the Company (as guarantor), and each of Royal Bank of Canada and The Toronto-Dominion Bank to further amend the previously executed credit agreement dated June 30, 2020 (the " Credit Agreement ") between the parties. The parties agreed, among other things, to extend the maturity date of the Credit Agreement from June 30, 2022 to June 30, 2023 .

As part of the Amending Agreement, TeraGo Networks will make a lump sum principal repayment to its term facility, which will reduce its borrowings under such facility to $22.5 million on June 30, 2021 .

The existing covenants and other terms and conditions under the Credit Agreement were substantially carried over for the extension.

About TeraGo
TeraGo owns a national spectrum portfolio of exclusive 24 GHz and 38 GHz wide-area spectrum licenses including 2,120 MHz of spectrum across Canada's 6 largest cities. TeraGo provides businesses across Canada with cloud, colocation and connectivity services. TeraGo manages over 3,000 cloud workloads, operates five data centres in the Greater Toronto Area , the Greater Vancouver Area , and Kelowna , and owns and manages its own IP network. The Company serves business customers in major markets across Canada including Toronto , Montreal , Calgary , Edmonton , Vancouver , Ottawa and Winnipeg . For more information about TeraGo, please visit www.terago.ca .

SOURCE TeraGo Inc.

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