exactEarth Announces $6 Million Revolving Credit Facility from National Bank of Canada
exactEarth Ltd. (“the Company”) (TSX: XCT), a leading provider of Satellite-AIS data services announces that it has entered into a new credit facility (“Credit Facility”) that provides for a $6 million secured revolving operating line with National Bank of Canada’s (“NBC”) Technology and Innovation Banking Group. The Credit Facility is undrawn as of today’s date.
“We are very pleased to partner with NBC on this important transaction and to further strengthen our financial foundation and flexibility,” said Sean Maybee, CFO at exactEarth. “This agreement is an important milestone that reflects the achievements we have made recently to generate strong revenue growth and positive Adjusted EBITDA, as well as confidence in our overall strategic outlook and growth potential.”
“National Bank’s Technology and Innovation Group is excited to partner with exactEarth to support its continued growth and success. NBC is dedicated to supporting technology companies across Canada with a specialized team of experts to provide advisory and financial services at every stage,” said David Looi, Senior Director, Technology and Innovation Banking Group at National Bank of Canada.
exactEarth 2021 Annual and Special Meeting of Shareholders
exactEarth would also like to remind its shareholders of the Company’s upcoming annual and special meeting of shareholders (“AGM”) to be held on Wednesday, April 28, 2021, at 10:00 a.m. Eastern Daylight Time. In accordance with the ongoing limitations on public gatherings related to the COVID-19 pandemic exactEarth will hold its AGM in a virtual-only format conducted by live audio webcast.
All shareholders will be able to listen to the AGM and view the Company’s slide presentation as guests via audio webcast. To do so, login online at: https://web.lumiagm.com/?fromUrl=473843526, click “Guest” and then complete the online form. Please log in approximately ONE HOUR prior to the start time of the AGM on April 28, 2021.
About exactEarth Ltd.
exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its formation in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called Satellite AIS and has delivered to its clients a view of maritime behaviours across all regions of the world’s oceans unrestricted by terrestrial limitations. exactEarth’s second-generation constellation, exactView RT, securely relays satellite-detected AIS vessel signals from any location on the earth’s surface to the ground in seconds – thus enabling global real-time vessel tracking. This unique capability consists of 58 advanced satellite payloads designed and built by L3Harris Technologies, Inc. under agreement with exactEarth and that are hosted onboard the Iridium NEXT constellation of satellites. www.exactearth.com
About National Bank of Canada
With $344 billion in assets as at January 31, 2021, National Bank of Canada, together with its subsidiaries, forms one of Canada’s leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at nbc.ca or via social media such Facebook, LinkedIn and Twitter.
