July 23, 2019
Toronto, Canada – July 18, 2019 - Kuuhubb Inc. (“Kuuhubb” or the “Company”) (TSX- V: KUU), a mobile game development and publishing company targeting the female audience with bespoke mobile experiences, is pleased to announce the closing of a non-dilutive debt financing (the “Financing”) of €1.1 million (approximately CAD $1.61 million).
The debt facility has a two-year term, bearing an interest rate of 7 percent per year, to be paid quarterly. The maturity date is June 28, 2021 at which time the principal is due. There are no warrants or convertible features associated with this financing.
Kuuhubb’s CEO, Jouni Keränen stated, “I would like to acknowledge the work of our Board member, Andre Lüdi, who was instrumental in this deal through his finance contacts in Switzerland. This non-dilutive financing will primarily be used for marketing initiatives to grow Kuuhubb’s user base and revenues.”
The Financing is subject to TSX Venture Exchange approval.