dba Telecom Announces Financing Agreements
dba Telecom Corporation
CDNX: DBA
September 27, 2000 News Release
dba Telecom Announces Financing Agreements
September 27, 2000; North Vancouver, BC, Canada - dba Telecom Corporation (CDNX: DBA) announced today that the company has entering into 2 financing agreements.
The first is a loan agreement for up to $1,400,000 with interest at 10% and payable on demand. The second agreement is a $1,000,000 standby letter of credit to assist in production financing for dba Telecom’s SmarTalk ST phones. The facility carries an interest rate of 7%. dba Telecom is providing joint security for both agreements. The funding for both agreements has been provided by parties associated with directors of the company.
Garry Hines, President and CEO of dba Telecom, said that “these agreements allow us to further increase our production capabilities in order to meet customer demands. We are currently seeing the results of our sales efforts with several new orders added recently:”
Known internationally as “The SmarTalk Company”, dba Telecom provides a unique range of intelligent network handsets for use in a variety of applications in the Centrex, Computer Telephony and Communication Server markets. dba Telecom has sales and support offices in Atlanta, Charlotte, Los Angeles, Hong Kong, and Sydney with engineering, marketing and administration located in Vancouver. The Company’s shares are traded on the Canadian Venture Exchange under the symbol DBA.
The Canadian Venture Exchange has neither approved nor disapproved the information contained herein. |
