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Turnium Technology Group Inc
Symbol TTGI
Shares Issued 68,865,009
Close 2022-11-30 C$ 0.12
Recent Sedar Documents

Turnium amends $1.85M loan agreement with FirePower

2022-11-30 17:50 ET - News Release

Mr. Bill Mitoulas reports

TURNIUM TECHNOLOGY GROUP INC. SIGNS AMENDED LOAN AGREEMENT WITH FIREPOWER CAPITAL

Turnium Technology Group Inc. has completed its negotiations with FirePower Capital to amend its $1.85-million loan agreement.

Under the terms of the amended loan agreement, the maturity date has moved from July 30, 2024, to March 31, 2023. Financial performance covenants have been replaced with a minimum cash balance on hand of $350,000, and a commitment by the company to complete a $97,000 asset purchase of blocks of Internet protocol addresses, application software and hardware, and three of its data centres from PSD Systems.

This amendment gives the company the necessary time to arrange for alternative debt and/or equity financing to replace the FirePower loan.

About Turnium Technology Group Inc.

Turnium delivers its SD-WAN solution as a white-label, containerized, disaggregated software platform that channel partners host, manage, brand and price and as a managed cloud-native service provided by Turnium. Both Turnium SD-WAN offers are available through a channel partner program designed for communications service providers, Internet and managed service providers, system integrators, and value-added resellers.

We seek Safe Harbor.

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