GameOn to receive 550 000 in loan agreement

GameOn Entertainment Technologies has entered into a loan agreement with capital advisory and venture capital firm Proje Ventures

GameOn Entertainment Technologies has entered into a loan agreement with uppercase consultative and embark working capital truehearted Proje Ventures. The trade that testament regard GameOn borrow an aggregative of $550,000.

GameOn intends to utilisation proceeds from the loan to sustenance superior general working chapiter purposes. As per the terms agreed, the loan will hold involvement at a non-compounding range of 14% per annum, payable inwards arrears every month.

The loan will maturate on the 18^th month anniversary of the closing date and will live secured against the company’s monthly revenant revenue from its assets and contracts.

Additionally, per Proje's loan terms, GameOn has issued 5,683,533 vulgar percentage purchase warrants of the company, each exercisable to acquire 1 mutual portion out of the Company at any time until 5 July 2024 at an drill damage per Bonus Warrant of $0.06, dependent to certain conditions.

GameOn CEO Matt Pearl Bailey said: “This strategical partnership with Proje sets us up to survive the stream securities industry conditions and flourish beyond that. The hard cash injectant and engaged revenue scheduled to proceed live in Q3, Q4 and next year, has us on running for self-sustainability and profitability in 2023.”

In Q1 2022, GameOn reported $207,151 in revenue, a boost from $2,791 in Q1 2021. Company direction thinks GameOn is on caterpillar track to attain $1m in revenue in 2022, not including income from revenue part agreements.

In June 2022, GameOn decreed Jacques Louis David Meltzer to its gameboard of directors as the companionship seeks to focus on increasing revenue and profitability.

This news is presented to you by the dahmain.com.