Martello Secures $3 Million in Loan Facilities from Royal Bank of Canada

Martello Technologies Group Inc. a leading provider of network performance management solutions for real-time communications has announced that it has closed a financing with Royal Bank of Canada (RBC) for new loan facilities through its subsidiary Martello Technologies Corporation. The financing includes a term loan of $3 million, in conjunction with the acquisition of Savision B.V.

This new financing is comprised of a term loan, a revolving facility and other ancillary facilities. The term loan of $3 million bears an interest rate of 5.40% per annum and is repayable over a term of 36 months. The revolving facility, in the amount of up to $1 million, bears a variable interest rate based on the RBC prime rate and is repayable on demand.

The facilities are secured by a general security agreement on the property of Martello Technologies Corporation, a subsidiary of the Company, as well as secured guarantees from five other subsidiaries of the Company and the Company itself.

Recent acquisition activities for Martello include the acquisition of Savision B.V. in October 2018, after having acquired Elfiq Networks in December 2017 and Netvitesse in 2014. The Company’s solutions have also been recognized by the industry.  In September, Martello received a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa’s Fastest Growing Company, at No. 28 on the Growth 500 list of Canada’s Fastest Growing Companies. The Company recently went public with a TSXV listing, following the closure of an oversubscribed $7.5 million private placement.

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