Toronto (pcJ News Briefs) – EQ Inc. (TSX-V: EQ) intends to issue up to approximately $600,000 non-convertible secured promissory notes to certain arm’s length and non-arm’s length lenders, including Vernon Lobo, Chairman and a director, Geoffrey Rotstein, President & CEO and a director, and Dilshan Kathriarachchi, CTO.
The new promissory notes will bear interest at a rate of 8% per annum, calculated annually, and will be due up to in eighteen months from the date of issuance.
Proceeds will be used to execute its business plan and for working capital requirements.
EQ provides a smarter way to target customers. The company uses its real-time technology and advanced analytics to detect the actionable data that boosts performance for all web, mobile, social and video initiatives.
As of April 19, 2016, Difference Capital Funding Inc. owned 3,153,875EQ shares representing 19.9% of the outstanding share on non-diluted basis.
photo credit: EQ Inc.