Clip Money Inc. Announces Binding Offer Letter with Business Development Bank of Canada for $500,000 Loan

December 19, 2023

TORONTO, Dec. 19, 2023 (GLOBE NEWSWIRE) — Clip Money Inc. (TSX-V: CLIP) (“Clip” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce that it has entered into a binding offer letter (the “Offer Letter”) with the Business Development Bank of Canada (“BDC”) for a loan in the amount of CDN$500,000 (CAD) in the form of non-revolving subordinated secured debt (the “BDC Loan”). The Company intends to use the proceeds from the BDC Loan for general working capital purposes.

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