16:17:31 EDT Sat 04 May 2024
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or Name
USA
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Arht Media Inc (2)
Symbol ART
Shares Issued 192,309,643
Close 2023-06-21 C$ 0.135
Market Cap C$ 25,961,802
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Arht Media arranges $2M line of credit with Sallyport

2023-06-22 13:26 ET - News Release

Mr. Larry O'Reilly reports

ARHT MEDIA CLOSES $2 MILLION OPERATING DEBT FACILITY WITH SALLYPORT COMMERCIAL FINANCE

Arht Media Inc. has entered into an accounts receivable facility with Sallyport Commercial Finance for up to $2-million. Under the terms of the agreements signed with Sallyport, the company can draw down up to $2-million based on its accounts receivable and inventory balances and includes other terms, such as the ability to repay the facility at any time without penalty. This line of credit comes with a one-year term and an annual interest rate of approximately 14 per cent. The loan proceeds will be used to finance working capital, and the facility is secured by accounts receivable and inventory assets. In addition, the company's subsidiaries have provided guarantees on the facility.

Larry O'Reilly, chief executive officer of Arht Media, stated: "The additional capital available under this credit line will provide flexibility in working capital during this growth stage of Arht Media's development. We are very pleased to secure this non-dilutive capital and appreciate the support from our tremendous partner, Sallyport Commercial Finance."

About Arht Media Inc.

Arht is a pioneer and the global leader in live-hologram technology. Thanks to its patented end-to-end technology, executives, medical experts, educators, entertainers and thought leaders can travel at the speed of light to any destination.

Arht was founded in 2014. Arht has offices in North America, Europe and Asia, and operates from its own studios in locations from Toronto to Sydney, as well as a large network of partner studios in every region.

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