Dreamscape Networks Limited is pleased to announce that it has approved commercial terms and conditions for a $20 million three-year cash advance facility with a major Australian bank.
The acquisition funding facility will assist Dreamscape Networks in making further cash flow positive and earnings accretive acquisitions, while preserving the Company’s equity capital.
Commenting on the new facility, Dreamscape Networks’ Managing Director & CEO, Mark Evans, said:
“The additional funding available will enable us to continue building on our market leadership in Australia and Singapore, as we strive to become South East Asia’s leading trusted and affordable online solutions provider. The facility reflects Dreamscape Networks’ strong operating cash flows, and will allow us to make our balance sheet work harder for shareholders.
“The new facility, once implemented, will improve the Company’s overall capital structure to better enable us to execute on the exciting opportunities we see for Dreamscape Networks via complementary businesses and products. Having successfully acquired and integrated Net Logistics [Sydney] and Vodien Group [Singapore], we are in a strong position to drive continued growth.”
A Facility Agreement and associated documentation is currently being completed that will contain these approved terms and conditions as well as other standard terms and conditions usual for a facility of this nature.