TERAGO and CrowdOut Capital amend certain terms of Credit Agreement
TORONTO , June 7, 2024 /CNW/ - TERAGO Inc. ("TERAGO" or the "Company"), today announced it and CrowdOut Capital LLC ("CrowdOut") have amended certain terms of the credit agreement entered into between, inter alios, CrowdOut and the Company as of September 29, 2022 (the "Credit Agreement") (as amended by that certain First Amendment to Credit and Guaranty Agreement dated as of May 29, 2024) (the "Amending Agreement") relating to the Company's secured debt facility, and have added Cymbria Corporation ("Cymbria") as an additional lender to the syndicate as per the Amending Agreement, while maintaining consistency with the initial framework of the Credit Agreement.
The Company has filed the Amending Agreement, which is now available on SEDAR+ at www.sedarplus.ca.
TERAGO provides managed wireless and wireline connectivity and private 5G wireless networking services to businesses operating across Canada. As Canada's biggest mmWave spectrum holders, the Company possesses exclusive spectrum licenses in the 24 GHz and 38 GHz spectrum bands, which it utilizes to provide secure, dedicated SLA guaranteed enterprise grade performance that is technology diverse from buried cables ensuring high availability connectivity services. TERAGO serves over 1,900 Canadian and Global businesses operating in major markets across Canada, including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless services since 1999. For more information about TERAGO, please visit www.terago.ca.
This news release may contain words considered forward-looking statements or information under applicable securities laws, including but not limited to the receipt of TSX approval. These statements are based on TERAGO's current expectations, estimates, forecasts and projections about the operating environment, economies, and markets in which the Company operates. These statements are subject to important assumptions, numerous risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. TERAGO's assumptions, although considered reasonable by the Company at the date of this press release, may prove to be inaccurate and consequently, its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see TERAGO's securities filings with the OSC and other securities regulators. TERAGO's securities filings are available on www.sedarplus.ca under the Company's corporate profile. Unless otherwise required by applicable Canadian securities laws, TERAGO does not intend, and disclaims any obligation, to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise.
SOURCE TeraGo Inc.
Daniel Vucinic Chief Executive Officer, Email: [email protected]
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