VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 8, 2016) - Liquid Entertainment Ltd. (the "Company" or "Liquid") is pleased to announce the signing of a credit facility for $2,500,000 with Runway Finance Group Inc. ("Runway") of Ottawa, Ontario.
Under the terms of the credit facility agreement, Runway has advanced Liquid $2,500,000 for a period of 3 years from the initial funding date of November 2016.
Liquid intends to use the proceeds of the credit facility to fund the acquisition of additional revenue producing assets in the media, gaming and animation industries as well as continue to assist in the financing of tax credit-related projects.
In Conjunction with closing the Credit Agreement, Runway has become a shareholder of Liquid.
CEO of Liquid Entertainment Krysanne Katsoolis states, "We are excited to have Runway Finance Group as our partner & our first Institutional shareholder going forward. The services Runway offers are in high demand in the film, television and gaming industry. With their support, the growth of Liquid will be accelerated significantly."
CEO of Runway Finance James Drage states, "Liquid Entertainment is a growing force in the entertainment industry and we are delighted to help facilitate their growth. We look forward to working with their leadership to support their current and future projects."
About Runway Finance Group Inc.
Runway Finance Group is a Canadian venture-debt company that offers non-dilutive financing of between $200K and $5M to growing companies in Canada across a range of sectors, including specifically film, television and gaming. Runway offers senior secured debt with flexible repayment options that are tailored to match each customer's cash inflows, including everything from annual payments tied to SRED/DMTC refunds to a percentage of monthly recurring subscription revenues.
About Liquid Entertainment Ltd.
The Company is a multi-platform, multi-faceted entertainment company dedicated to bringing the best in evergreen content to the world. The Company is an intellectual property aggregator utilizing expert boutique teams to create, produce, and distribute content across all platforms.
Further information about the Company is available under its profile on the SEDAR website www.sedar.com.
This press release may include forward-looking information within the meaning of Canadian securities legislation. The forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this news release and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.