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Ivrnet (TSXV:IVI) has announced the signing of a subsequent financing with RC Morris & Company. As quoted in the press release: As per the terms and conditions of the $3,000,000 credit facility provided by R.C. Morris & Company Special Opportunities Debt Fund III LP; previously announced on August 3, 2016, financing of $500,000 was provided at a cost of 17% and 1,166,667 …
Ivrnet (TSXV:IVI) has announced the signing of a subsequent financing with RC Morris & Company.
As quoted in the press release:
As per the terms and conditions of the $3,000,000 credit facility provided by R.C. Morris & Company Special Opportunities Debt Fund III LP; previously announced on August 3, 2016, financing of $500,000 was provided at a cost of 17% and 1,166,667 share purchase warrants at a market price of $0.03. The Warrants expire no later than five (5) years from date of issuance. Warrants and any shares issued upon exercise of the warrants are subject to a 4-month hold period from the date of closing or date of exercise of the warrants.
“We continue to focus on our goal of generating positive EBITDA from recurring operations only” explains Ivrnet CEO David Snell. He continues, “With this achieved, each additional sale becomes incremental profit. This advance is intented to fund the final sales growth that will take us to this point quickly.”