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Runway Finance Provides $2.5MM Credit Facility to Liquid Entertainment

December 09, 2016, 07:51 AM
Filed Under: Entertainment

Liquid Entertainment Ltd. announced the signing of a credit facility for $2.5 million with Runway Finance Group Inc. Under the terms of the credit facility agreement, Runway has advanced Liquid $2.5 million for a period of three years from the initial funding date of November 2016.

Liquid intends to use the proceeds of the credit facility to fund the acquisition of additional revenue producing assets in the media, gaming and animation industries as well as continue to assist in the financing of tax credit-related projects.

In Conjunction with closing the Credit Agreement, Runway has become a shareholder of Liquid.

CEO of Liquid Entertainment Krysanne Katsoolis states, "We are excited to have Runway Finance Group as our partner & our first Institutional shareholder going forward. The services Runway offers are in high demand in the film, television and gaming industry. With their support, the growth of Liquid will be accelerated significantly."

CEO of Runway Finance James Drage states, "Liquid Entertainment is a growing force in the entertainment industry and we are delighted to help facilitate their growth. We look forward to working with their leadership to support their current and future projects."

Runway Finance Group is a Canadian venture-debt company that offers non-dilutive financing of between $200,000 and $5 million to growing companies in Canada across a range of sectors, including specifically film, television and gaming. Runway offers senior secured debt with flexible repayment options that are tailored to match each customer's cash inflows, including everything from annual payments tied to SRED/DMTC refunds to a percentage of monthly recurring subscription revenues.

Liquid Entertainment is a multi-platform, multi-faceted entertainment company dedicated to bringing the best in evergreen content to the world. The Company is an intellectual property aggregator utilizing expert boutique teams to create, produce, and distribute content across all platforms.

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