CONNECT WITH US
Gaming

Gaming

East Side Games secures $2.8m in Canadian credit and a $4m loan

PocketGamer.biz logo

Published on

Add as a preferred source on Google
East Side Games secures $2.8m in Canadian credit and a $4m loan

East Side Games secures $2.8m in Canadian credit and a $4m loan

The company also secured $4m through Export Development Canada's Direct Lending Program.

Part of the funding will repay East Side Games' existing line of credit with Royal Bank of Canada.

The company develops original and licensed mobile games and licenses its GameKit platforms.

East Side Games Group has secured access to CAD $4 million ($2.8m) in credit from the National Bank of Canada.

The company also secured access to a further US$4m through Export Development Canada's Direct Lending Program

The free-to-play mobile game developer and publisher said it had transferred its banking relationship to National Bank of Canada, securing credit based on its accounts receivable and receivable tax credits.

East Side Games Group said its Export Development Canada loan is earmarked for two new games planned for release in 2027.

The company went on to share that part of the proceeds will be used to repay its existing line of credit with the Royal Bank of Canada and end its banking relationship with the lender.

The two titles supported by the EDC funding have not yet been announced. The company did not provide further details about either game.

East Side Games develops and publishes original and licensed intellectual property, while also licensing its GameKit platforms and working on prepaid platform partnership projects. It also acquires studios and games to expand its portfolio.

The company said the new banking relationships will provide additional access to credit and support its future development plans.


Source link
Related Topics:Gaming

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.