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August 2, 2018

Progressa Completes $6.4 Million Private Placement

Creditloans Canada Financing Inc. d/b/a Progressa, a financial technology company that develops software solutions for enterprise business utilizing non-traditional credit evaluation techniques to improve lending outcomes, has completed an equity financing for aggregate gross proceeds of approximately $6.4 million. The brokered portion of the offering was completed by a syndicate of agents co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and including Paradigm Capital Inc. and Eight Capital.

Wildeboer Dellelce LLP acted for the agents in connection with the offering with a team that consisted of Perry Dellelce, Michael Rennie, Carlye Bellavia and Colin Romano (corporate/securities) and Katy Pitch (tax).