SIM.v/SIMFF -.005 to C$.425
This is a good sign. The overall corporation isn't profitable yet but to get a line of credit from a bank means that subsidiary is looking up. Signifi is the sub that will lead the charge into US markets under the Uniden brand.
The Bank will have looked at their projections and will hold their feet to the fire. It isn't free money. But will prevent dilution share issuance and should allow Siyata to plan better and give them a buffer against the unexpected.
February 2, 2017
Siyata Mobile Arranges CDN$1.275MM Credit Facility From Tier 1 Canadian Bank
Montréal, QC – Siyata Mobile Inc. (TSX-V:SIM / OTC PINK:SIMFF) (the "Company" or "Siyata") is pleased to announce that its subsidiary, Signifi Mobile Inc. (“Signifi”) has received a CDN$1.275MM commitment from a Tier 1 Canadian Bank to finance its growth.
The commitment is secured against certain assets of Signifi and comprises of four separate facilities totalling $1.275MM at prime plus 2%.
Marc Seelenfreund, CEO of Siyata Mobile stated, “This is a great achievement for Siyata Mobile to have a leading Canadian bank as our partner. This finance commitment will assist with our working capital and support our continued rapid growth in North America.”
The Company also announces that it has received CND$150,000 from the proceeds of broker warrants that were issued in relation to the financing completed in connection with its reverse takeover in July of 2015.
Please post stock symbols first in all your posts. If it's a foreign stock, please list the US pk equivalent symbol.
If the Commodities Boom is Over, I am just a Gold Bug headed for the Windshield of LIFE
