D-BOX Technologies Inc (TSX: DBO), a designer and manufacturer of motion systems for the entertainment and industrial markets, has received $5 million in funding. The investment, which took the form of a loan, was provided by the Caisse de dépôt et placement du Québec, one of D-BOX’s shareholders. The Longueuil, Québec-based company said the transaction will help it accelerate growth and strengthen its presence in new markets.
D-BOX Strengthens Its Partnership with CDPQ
LONGUEUIL, QUEBEC, Aug 05, 2015 (Marketwired via COMTEX) — D-BOX Technologies Inc. (DBO), a leader in innovative motion technology, announced today a $5-million investment, in the form of a loan, by Caisse de depot et placement du Quebec (CDPQ), one of its largest shareholders.
This transaction will enable D-BOX to accelerate its growth and to strengthen its presence in new markets.
“D-BOX continues to establish itself successfully in many countries and to expand its footprint in North America,” said Claude McMaster, President and Chief Executive Officer of D-BOX. “We are also well positioned to capitalize on growth in the entertainment, simulation and training markets. We are pleased to strengthen our partnership with la Caisse, which will certainly support our expansion.”
The loan shall bear interest at an annual rate of 7% or 10% in accordance with predefined conditions and will mature on February 5, 2020. The loan is secured on all of the assets (except for intellectual property) of D-BOX and its subsidiary. In connection with the loan, D-BOX has issued 4,500,000 common share purchase warrants to CDPQ, with each warrant entitling the holder thereof to acquire one Class A common share of the Corporation at a price of $0.50 per Class A common share for a period of 48 months ending on August 5, 2019.
About D-BOX Technologies Inc.
D-BOX Technologies Inc. designs, manufactures and commercializes cutting-edge motion systems intended for the entertainment and industrial markets. This unique and patented technology uses motion effects specifically programmed for visual content, which are sent to a motion system integrated into either a platform, a seat or any other product. The resulting motion is perfectly synchronized with the on-screen action, thus creating an unparalleled realistic immersive experience.
Chief Financial Officer
D-BOX Technologies Inc.
450 442-3003, Extension 296
Marc Jasmin, CPA, CMA
President, PMJ Communications Inc.
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