exactEarth Ltd. entered into a new credit facility that provides for a $6 million secured revolving operating line with National Bank of Canada's ("NBC") Technology and Innovation Banking Group. The Credit Facility is undrawn as of today's date.
"We are very pleased to partner with NBC on this important transaction and to further strengthen our financial foundation and flexibility," said Sean Maybee, CFO at exactEarth. "This agreement is an important milestone that reflects the achievements we have made recently to generate strong revenue growth and positive Adjusted EBITDA, as well as confidence in our overall strategic outlook and growth potential."
"National Bank's Technology and Innovation Group is excited to partner with exactEarth to support its continued growth and success. NBC is dedicated to supporting technology companies across Canada with a specialized team of experts to provide advisory and financial services at every stage," said David Looi, Senior Director, Technology and Innovation Banking Group at National Bank of Canada.