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exactEarth Announces $6 Million Revolving Credit Facility from National Bank of Canada
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CAMBRIDGE, ON, April 26, 2021 /CNW/ - exactEarth Ltd. ( the Company ) (TSX: XCT), a leading provider of Satellite-AIS data services announces that it has entered into a new credit facility ( 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. ....

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