TrustBIX Inc. announced today a contribution agreement with Western Economic Diversification Canada (WEDC) for a repayable financial contribution of up to $1,000,000 under the Regional Relief and Recovery Fund.
The contribution agreement will see WEDC support TrustBIX with the investment prior to March 31, 2021 to support general working capital requirements.
“This investment has come at an opportune time for TrustBIX. As was previously announced, we are gaining traction with our ViewTrak Auction Market solutions, have seen our first sale of the Basecase software solution, and have a strong funnel of new solutions we look to launch over the upcoming quarters,” said Hubert Lau, CEO of TrustBIX.
The Honourable Mélanie Joly, MP for Ahuntsic-Cartierville, and minister responsible for Western Economic Diversification Canada, said the COVID-19 pandemic has had a significant impact on businesses, workers, and communities across Western Canada. Joly added that, “this is why the Government of Canada is taking decisive steps to support Canadians, stabilize the economy, and help businesses prepare for recovery.”
Repayment of the contribution will begin Jan. 31, 2023 and continue in equal monthly instalments until fully repaid by Dec. 31, 2025.