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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  ProntoForms Corporation    PFM   CA74345T1057

PRONTOFORMS CORPORATION

(PFM)
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ProntoForms : Announces $6 Million Revolving Credit Facility and Warrant Proceeds of $1.96 Million

10/30/2020 | 03:02pm EST

OTTAWA, Oct. 30, 2020 (GLOBE NEWSWIRE) -- ProntoForms Corporation (“ProntoForms” or the “Company”) (TSXV: PFM), the global leader in field-focused low-code application platforms for enterprise, announced today that it has entered a revolving credit facility with Toronto-Dominion Bank (“TD”) for an amount of up to CAD $6 million with a 2-year commitment renewable annually. The facility was partially used to settle the Company’s obligations to BDC Capital Inc. ("BDCC"), a wholly owned subsidiary of the Business Development Bank of Canada.

Also, on October 29, 2020, warrants to purchase 4,350,000 common shares of the company were exercised for proceeds of CAD $1,957,500.

“We are pleased to have secured a new senior credit facility with TD. This new arrangement reflects the value that has been built in our growing—and increasingly enterprise—recurring revenue base. This facility provides access to lower cost capital to settle our existing obligations of approximately CAD $4.2 million to BDCC and additional capacity for general use if needed. BDCC has been with us since our early stages and we appreciate their support over the last 8 years. We look forward to working with TD as we approach our next stage of growth,” commented Dave Croucher, Chief Financial Officer of ProntoForms.

About ProntoForms Corporation

ProntoForms is the global leader in field-focused low-code application platforms for enterprise. The Company's solution is used to create apps and forms to collect and analyze field data with smartphones and tablets – either as a standalone solution or as a mobile front-end to enterprise systems of record.

The Company’s 100,000+ subscribers harness the intuitive, secure, and scalable solution to increase productivity, improve quality of service, and mitigate risks. The Company is based in Ottawa, Canada, and trades on the TSXV under the symbol PFM. ProntoForms is the registered trademark of ProntoForms Inc., a wholly owned subsidiary of ProntoForms Corporation.

Certain information in this press release may constitute forward-looking information. For example, statements about the Company's future growth or value are forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



For additional information, please contact:

Alvaro Pombo
Chief Executive Officer
ProntoForms Corporation
613.599.8288 ext. 1111
apombo@prontoforms.com
Babak Pedram
Investor Relations
Virtus Advisory Group Inc.
416-644-5081
bpedram@virtusadvisory.com

ProntoForms_logo_2018.jpg

Source: ProntoForms Corporation

2020 GlobeNewswire, Inc., source Press Releases

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Financials
Sales 2020 22,4 M 17,6 M 17,6 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 178 M 140 M 140 M
Capi. / Sales 2020 7,96x
Capi. / Sales 2021 6,66x
Nbr of Employees -
Free-Float 64,7%
Chart PRONTOFORMS CORPORATION
Duration : Period :
ProntoForms Corporation Technical Analysis Chart | PFM | CA74345T1057 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Average target price 2,10 CAD
Last Close Price 1,40 CAD
Spread / Highest target 50,0%
Spread / Average Target 50,0%
Spread / Lowest Target 50,0%
EPS Revisions
Managers and Directors
NameTitle
Alvaro Pombo President, Chief Executive Officer & Director
Terry Hedley Matthews Chairman
Aly Mawani Vice President-Operations
David Croucher Chief Financial Officer
Jonathan Shantz Independent Director
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