Toronto, Ontario--(Newsfile Corp. - September 15, 2022) - Lendified Holdings Inc. (TSXV: LHI) (the "Company" or "Lendified") is pleased to announce closing of an advance in the amount of $500,000 under the Company's non-revolving, secured term loan in the aggregate amount of up to $10,000,000 pursuant to a credit agreement entered into between the Company's wholly-owned subsidiary and certain lenders (the "Credit Facility"), as previously announced on April 5, 2021, May 14, 2021 and August 17, 2021. As of the date hereof, the Company drawn an aggregate of $2,500,000 under the Credit Facility which Lendified has been used to fund loans to its customers.
The advances under the Credit Facility will be used for purposes of funding new loans to the Company's customers in the ordinary course of business.
ABOUT LENDIFIED HOLDINGS INC.
Lendified, a company located in Ontario, Canada, is a Canadian FinTech company operating a lending platform which provides working capital loans to small businesses across Canada through a wholly-owned subsidiary.
Further Information
For further information regarding Lendified, please contact:
Eoghan Bergin, Chief Executive Officer and Director
1-844-451-3594
eoghan.bergin@lendified.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including, but not limited to, whether the proceeds from the Credit Facility will be sufficient for the Company's purposes; the timing of any future advances under the Credit Facility, if any; the Company's ability to repay the Credit Facility pursuant to its terms; and whether the effects of the COVID-19 pandemic will be even more severe than it has been to date, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
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