- Entered a commercial agreement with a Major Canadian Financial Institution to provide credit facilities that will give GLN access to an aggregate total of $11,250,000.
- Included among the credit facilities is a $5,000,000 revolving line of credit to help support working capital as the company scales, and an acquisition line of credit to support company M&A strategies
VANCOUVER, Dec. 17, 2018 – Good Life Networks Inc. (“GLN“, or the “Company“) (TSXV: GOOD) (FSE: 4G5), a programmatic advertising technology company, today announced that it has entered a commercial agreement with a Major Canadian Financial Institution to provide credit facilities that will give GLN access to an aggregate total of $11,250,000. Included among the credit facilities is a $5,000,000 revolving line of credit to help support working capital as the company scales, and an acquisition line of credit to support company M&A strategies. Management plans to access funds from the acquisition line of credit to complete a recently announced acquisition.
“The credit facilities will help us meet our growth objectives while maximizing shareholder value,” said GLN CEO Jesse Dylan. “We are thrilled to be working with a Major Canadian Financial Institution now and in the future as we continue to scale our business.”
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The GLN Story
GLN’s technology is the engine that
sits between advertisers and publishers. The GLN Platform is built for
cross device video advertising: Mobile, In-App, Desktop and CTV
(Connected Television). The Programmatic Video Marketing Platform is
powered by GLN’s Patent Pending proprietary machine learning technology
that targets and connects digital advertisers with consumers three times
faster than industry standards, with among the lowest fraud rates among
vendors without collecting PII (Personal Identifiable Information).
The Programmatic Video Technology Platform features integrations at the server level with both Publishers and Advertisers. Our technology quickly finds the most valuable advertisement for every consumer. Publishers make more money through improved CPM (advertising fill rate) combined with a more engaged consumer experience. Advertisers make more money by reaching their target audience more effectively. GLN makes money by retaining a percentage of the advertiser’s fee.
GLN is headquartered in Vancouver, Canada with offices in the US and UK and trades on the TSX Venture Exchange under the stock symbol “GOOD” and The Frankfurt Stock Exchange under the stock symbol 4G5.
Addressable Market: The total media ad spend worldwide will rise 7.4% to $628.63 billion by this year, according to “Global Ad Spending: The eMarketer Forecast for 2018.” By 2020, digital’s share of total advertising will near 50%.
Forward Looking Statements:
Forward-looking
statements relate to future events or future performance and reflect the
expectations or beliefs regarding future events of management of GLN.
This information and these statements, referred to herein as
“forwardâ€looking statements”, are not historical facts, are made as of
the date of this news release and include without limitation, statements
regarding discussions of future plans, estimates and forecasts and
statements as to management’s expectations and intentions with respect
to the performance of the company. These statements generally can be
identified by use of forward-looking words such as “may”, “will”,
“expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue”
or the negative thereof or similar variations. These forwardâ€looking
statements involve numerous risks and uncertainties and actual results
might differ materially from results suggested in any forward-looking
statements. Important factors that may cause actual results to vary
include without limitation, risks relating to the digital advertising
industry and general economic conditions, success of acquisitions and
any growth strategies implemented utilizing the noted debt instrument.
In making the forwardâ€looking statements in this news release, the
Company has applied several material assumptions, including without
limitation that any acquisitions and corporate directives and
initiatives will be successfully completed in the time expected by
management and produce the desired results, generate the anticipated
revenue and expand GLN’s global reach per management’s expectations. GLN
does not assume any obligation to update the forward-looking
statements, or to update the reasons why actual results could differ
from those reflected in the forward looking-statements, other than as
required by applicable securities laws. Additional information
identifying risks and uncertainties is contained in GLN’s filings with
the Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE Good Life Networks Inc.
Tags: programatic advertising, tsx, tsx-v