Eddy Smart Home Solutions Ltd. Secures $1 Million Working Capital Loan Facility
Eddy Smart Home Solutions (TSXV: EDY) has secured a $1 million revolving credit facility through a loan agreement with a non-arm's length private lender. The facility carries a 12% annual interest rate and has a two-year maturity term. The company plans to utilize the proceeds primarily for inventory purchases to fulfill its contracted revenue backlog. The facility includes an option for a $500,000 expansion, potentially reaching $1.5 million total, based on receivables growth and increased inventory requirements.
Eddy Smart Home Solutions (TSXV: EDY) ha ottenuto un fido di credito revolving di 1 milione di dollari tramite un accordo di prestito con un prestatore privato non indipendente. Il fido prevede un tasso di interesse annuale del 12% e ha una durata di due anni. L'azienda intende utilizzare i proventi principalmente per acquisti di inventario al fine di soddisfare il suo arretrato di ricavi contrattati. Il fido include un'opzione per un espansione di 500.000 dollari, potenzialmente raggiungendo un totale di 1,5 milioni di dollari, in base alla crescita dei crediti e all'aumento delle esigenze di inventario.
Eddy Smart Home Solutions (TSXV: EDY) ha obtenido un crédito revolving de 1 millón de dólares a través de un acuerdo de préstamo con un prestamista privado no independiente. El crédito tiene un tasa de interés anual del 12% y tiene un plazo de dos años. La empresa planea utilizar los fondos principalmente para compras de inventario para cumplir con su backlog de ingresos contratados. El crédito incluye una opción para una expansión de 500,000 dólares, que podría llegar a un total de 1,5 millones de dólares, en función del crecimiento de cuentas por cobrar y el aumento de los requisitos de inventario.
Eddy Smart Home Solutions (TSXV: EDY)는 비독립적인 개인 대출자와의 대출 계약을 통해 100만 달러의 리볼빙 신용 시설을 확보했습니다. 이 신용은 연 12%의 이자율을 가지며, 2년 만기를 가지고 있습니다. 회사는 계약된 수익 백로그를 충족하기 위해 주로 재고 구매에 수익금을 사용할 계획입니다. 이 신용 시설에는 채권 성장과 증가된 재고 요구 사항에 기반하여 총 150만 달러에 도달할 수 있는 50만 달러 확장 옵션이 포함되어 있습니다.
Eddy Smart Home Solutions (TSXV: EDY) a obtenu un crédit revolving de 1 million de dollars par le biais d'un accord de prêt avec un prêteur privé non indépendant. Ce crédit présente un taux d'intérêt annuel de 12% et une durée de deux ans. L'entreprise prévoit d'utiliser les fonds principalement pour l'achat de stocks afin de satisfaire son arriéré de revenus contractuels. Le crédit comprend une option pour une expansion de 500 000 dollars, pouvant potentiellement atteindre un total de 1,5 million de dollars, en fonction de la croissance des créances et des besoins accrus en stocks.
Eddy Smart Home Solutions (TSXV: EDY) hat über eine Kreditvereinbarung mit einem nicht unabhängigen privaten Kreditgeber eine revolvierende Kreditlinie von 1 Million Dollar gesichert. Die Kreditlinie hat einen jährlichen Zinssatz von 12% und eine Laufzeit von zwei Jahren. Das Unternehmen plant, die Mittel hauptsächlich für den Einkauf von Waren zu verwenden, um seinen Vertragserlös-Rückstand zu decken. Die Kreditlinie umfasst eine Option für eine Erweiterung um 500.000 Dollar, die möglicherweise 1,5 Millionen Dollar insgesamt erreicht, basierend auf dem Wachstum der Forderungen und dem erhöhten Bedarf an Inventar.
- Secured $1M working capital facility to support inventory purchases
- Option to expand facility by additional $500K based on growth metrics
- No fees associated with the facility arrangement
- High interest rate of 12% per annum
- Non-arm's length transaction indicates related party lending
- Need for working capital financing suggests potential cash flow constraints
Toronto, Ontario--(Newsfile Corp. - February 11, 2025) - Eddy Smart Home Solutions Ltd. (TSXV: EDY) ("Eddy" or the "Company"), is pleased to announce that it has entered into a loan agreement with a non-arm's length private lender (the "Lender") for a
The Facility bears interest at a rate of
ABOUT EDDY
Eddy is a leading North American provider and developer of smart water metering products and monitoring services for residential and commercial properties. Eddy's solutions help property owners and developers protect, control, and conserve water usage through advanced sensing devices and behavioral learning software. For more information, visit www.eddysolutions.com.
For further details on the company's financial performance, please review our consolidated financial statements and management's discussion and analysis for the years ended December 31, 2023, and 2022, available on Eddy's SEDAR profile at www.sedar.com.
FORWARD-LOOKING INFORMATION AND STATEMENTS
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements reflect management's current expectations and are based on assumptions and estimates that involve risks and uncertainties. Actual results may differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ are discussed in the company's most recent management discussion and analysis under "Risks and Uncertainties," available at www.sedar.com. Eddy undertakes no obligation to update these statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Mark Silver
Executive Chairman and Chief Executive Officer
Tel: 416.221.8998
Email: ir@eddysolutions.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240487
FAQ
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