Tantalus Systems Announces Debt Restructuring

About this update from Tantalus Systems Holding Inc

Burnaby, British Columbia--(Newsfile Corp. - June 30, 2026) - Tantalus Systems Holding Inc. (TSX: GRID) (OTCQX: TGMPF) ("Tantalus" or the "Company"), a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, announced today that the Company has entered into an amended credit facility with Fifth Third Bank, N.A. (as successor to Comerica Bank) ("Fifth Third"). As a result of the amendment, Tantalus' debt facility with Fifth Third provides for aggregate commitments of up to $20.0 million, comprised of a $12.0 million revolving credit facility, a new $3.5 million term loan and $4.5 million in letters of credit capacity. In addition to expanding the amount of capital available, the Company extended the maturity dates relative to existing debt facilities. Specifically, the revolving credit facility was extended to June 30, 2029, the term loan provides a five-year maturity, and the letters of credit facility matures on June 30, 2027. The amended facility is expected to enhance Tantalus' financial flexibility by supporting working capital requirements and providing continuing access to letters of credit to support commercial bids, as well as being utilized in connection with Tantalus repaying its existing term loan with Export Development Canada ("EDC"). "The amendment to our existing credit facility with Fifth Third strengthens our capital structure as we continue to execute on our growth strategy," said Peter Londa, President and Chief Executive Officer of Tantalus. "The addition of the term loan also enables us to repay our existing EDC term loan, lower our cost of capital, and streamline our financing structure while maintaining flexibility to support working capital and future growth." The obligations under the amended facility are secured by a first-priority lien on the assets of Tantalus through its applicable subsidiaries, subject to the terms of customary closing documentation and security arrangements. All amounts presented in this news release are in United States dollars ("U.S. dollars"), unless otherwise indicated. ABOUT TANTALUS SYSTEMS HOLDING INC. (TSX: GRID) (OTCQX: TGMPF) Tantalus is a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data across all their devices and systems deployed throughout the entire distribution gri...

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