The Alberta, Canada-based provider of electronic bingo software and hardware, eQube Gaming, has closed an US$800,000 secured non-amortising loan bearing interest at five per cent per annum and maturing December 29, 2021.
The proceeds will be used to fund next-generation product software development and for general corporate purposes.
"It is always a pleasure to close financing that secures additional capital, particularly when it is from existing company shareholders, who continue to demonstrate their support of the company,” said eQube's CEO John Purcell.
“This support allows us to focus on customer acquisition, continuing our efforts to show how current and potential customers realise the benefits of eQube's product suite to their business. We are gaining significant traction in new and existing markets with demonstrable value added to our client locations. The financing further demonstrates confidence investors have in eQube and the value of its assets as security.”
