NameSilo Technologies Corp. Repays Outstanding Loan

Rhea-AI Summary

NameSilo Technologies Corp. (CSE: URL, OTC: URLOF) has repaid its outstanding loan of $3.9 million ahead of the October 28, 2024 maturity date. The repayment was primarily funded through free cash flow generated from the NameSilo business and a one-year loan of $1.5 million from Pathfinder Partners' Fund. CEO Paul Andreola highlighted that NameSilo's strong cash flow has enabled the company to grow operations, fund technology growth companies, and reduce debt. The new $1.5 million loan from Pathfinder bears 8% annual interest, is due in one year, and is secured against the company's personal property. With reduced debt, NameSilo plans to focus on revenue growth and strategic investments.

Positive

• Repayment of $3.9 million loan ahead of maturity date
• Strong free cash flow generation from NameSilo business
• Secured $1.5 million loan from Pathfinder Partners' Fund
• Reduced debt burden on balance sheet
• Plans for continued revenue growth and strategic investments

Negative

• New $1.5 million loan with 8% annual interest
• Personal property of the company used as security for the new loan

CSE: URL / OTC: URLOF

VANCOUVER, BC, Oct. 7, 2024 /PRNewswire/ - NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: URLOF) (the "Company") is pleased to announce that it has repaid its outstanding loan of $3.9 million ahead of the maturity date on October 28, 2024.  The loan was repaid mainly from free cash flow generated from the NameSilo business and a one-year loan of $1.5 million from Pathfinder Partners' Fund.

Paul Andreola, Chief Executive Officer and director of the Company stated, "Over the last three years, NameSilo's robust cash flow has allowed us to grow our operations, fund a number of technology growth companies and reduce the debt on our balance sheet. We are also grateful that Pathfinder, a key stakeholder of the Company, has shown confidence in the management's vision by making this loan.  With the lower debt burden, we intend to continue to pursue revenue growth as well as sourcing strategic investments to add to our significant investment portfolio."

The loan of $1.5 million from Pathfinder bears interest at 8% per annum and is due one year from the date of the loan.  The loan is secured against the personal property of the Company.

About NameSilo Technologies Corp. and NameSilo LLC

NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. NameSilo does not invest on behalf of any third party and it does not offer investment advice.

NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with approximately 4.67 million active domains under management from approximately 160 countries.

Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements.

NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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SOURCE NameSilo Technologies Corp.

FAQ

How much debt did NameSilo Technologies Corp. (URLOF) repay?

NameSilo Technologies Corp. repaid an outstanding loan of $3.9 million ahead of its maturity date on October 28, 2024.

What was the source of funds for NameSilo Technologies Corp. (URLOF) to repay its debt?

The debt was repaid mainly from free cash flow generated from the NameSilo business and a one-year loan of $1.5 million from Pathfinder Partners' Fund.

What are the terms of the new $1.5 million loan for NameSilo Technologies Corp. (URLOF)?

The new $1.5 million loan from Pathfinder Partners' Fund bears interest at 8% per annum, is due in one year, and is secured against the personal property of the company.

What are NameSilo Technologies Corp.'s (URLOF) plans following the debt repayment?

With the lower debt burden, NameSilo intends to continue pursuing revenue growth and sourcing strategic investments to add to their significant investment portfolio.