Boardwalktech, SQN Venture Income Fund Amend Loan Facility for Time Extensions

Boardwalktech Software Corp., a “leading digital ledger platform” and enterprise software solutions company, is partnering with SQN Venture Income Fund to “amend and extend the loan facility currently in place with Boardwalktech Software Corp,” according to a press release.

This loan was put in place on June 30 of this year.

This amendment includes the following changes:

  • Extension of the interest-only period through August 31, 2020;
  • Extension of the maturity date of the loan to August 1, 2022; and,
  • Agreement that the Company will use best efforts to prepay another $250,000 (USD) of principal before September 2020, dependent on market conditions and forecasted cash levels through the end of the fiscal year, for which SQN has agreed to waive any prepay fees associated with such early payments.

Speaking on the matter is Andrew T. Duncan, the CEO of Boardwalktech, who had said:

“Since the last amendment June 2019, the Company has reduced the principal on its SQN loan by $1.5 Million (USD), through a combination of previously announced debt-to-equity conversions (on February 28,2020) along with other prepayments. These efforts reflect Boardwalktech’s proactive, voluntary efforts to reduce its debt levels and retire such debt before maturity, in order to improve its balance sheet.”

All terms are subject to the approval of the TSX Venture Exchange, the release notes.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.

      Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend.