March 4, 2019
Toronto, Canada – March 4, 2019 - Kuuhubb Inc. (“Kuuhubb” or the “Company”) (TSXV: KUU), a mobile game development and publishing company, targeting the female audience with bespoke mobile experiences, announces closing of approximately Euro 1 million debt financing from Business Finland, the Finnish Funding Agency for Innovation.
The loan comes with a seven-year maturity and an interest rate of 1% per year as part of the Business Finland funding program, which supports the development and growth of carefully selected innovative technology companies. The first three years of the loan are repayment free.
“I would like to thank Business Finland for their support and trust in Kuuhubb. The long-term loan comes with very favorable terms and is a great validation that the company is on the right track. With this capital injection, coupled with the Euro 2 million announced in December 2018, along with further non-dilutive financings under discussion, Kuuhubb is well positioned to finance its numerous growth initiatives planned for 2019 and return to positive operating cash flow by year end.” commented Jouni Keränen, CEO of Kuuhubb Inc.