Bragg Gaming Group Secures New Debt Facilities and Provides Update on Cyber Breach
Bragg Gaming Group Inc. - Common Shares (BRAG)
Company Research
Source: Business Wire
TORONTO--(BUSINESS WIRE)--Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) (“Bragg” or the “Company”), a leading global B2B iGaming content and technology provider, today announced it has entered into a new financing agreement with the Bank of Montreal (“BMO”), a leading North American financial institution, pursuant to which BMO has made available to the Company certain credit facilities in a maximum aggregate amount of up to US$6.0 million to support its ongoing working capital and general corporate requirements (the “BMO Facilities”).In connection with the closing of the BMO Facilities, Bragg has successfully repaid in full the outstanding promissory note with entities controlled by Doug Fallon (the “Prior Note Indebtedness”). The new BMO Facilities replace the Prior Note Indebtedness, signalling a significant step in the Company's financial strategy to partner with a major commercial bank to support its growth."We are very pleased to establish this new relationship with the Bank o
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