Vancouver, BC / TheNewswire / April 10, 2019 - Eight Solutions Inc. (TSXV:ES) ("Eight Solutions" or the "Company"), today announced it has entered into a loan agreement with BID Group Technologies Ltd. ("BID Group"). in the principal amount of $485,000. The demand loan bears interest at the Bank of Montreal's prime rate plus 6% per annum and is secured by a general security agreement against the assets of the Company. The funds from the loan are intended to be used for working capital purposes. The Company is negotiating a full release from the loan and related security and expects to make a further announcement on the status of the loan on or before April 15, 2019.
Eight Solutions is a technology company bringing fast value to data through achievable AI. With a team of Media and Entertainment industry veterans, Eight Solutions brings together the 'fast to excitement' and 'ease of use' philosophies learned from years of producing the world's biggest video games and the experience of handling immense volumes of VFX data while working on Hollywood blockbuster movies. The Eight Solutions product portfolio includes Cumul8, an AI-driven live analytics platform providing real-time and predictive insights that help businesses harness and realize operational value from their data; and Jetstream, a secure high speed file transfer application enabling users to focus on their own work product rather than how it is delivered. For more information, visit eightsolutions.com.
On Behalf of the Board of Directors
(signed) "Rory Armes"
Chief Executive Officer, President and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Although Eight believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For more Information, please contact:
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Phone: (604) 669-8885
Fax: (604) 669-8855