BuildDirect Completes US$3 Million Secured Debt Financing



VANCOUVER, BC, February 15, 2022 /PRNewswire/ – Technologies Inc.. (TSXV: BILD) (“BuildDirect” Where “Company“), announces the closing of a secured debt financing pursuant to which it has issued, through its wholly owned subsidiary BuildDirect Operations Limited, secured notes to Pelecanus Investments Ltd. (“pelecan“), Lyra Growth Partners Inc. (“Lyre“) and Beedie Investments Ltd. (“Beedie Capital“) of an aggregate amount of US $3 million (the “To lend“). Technologies Inc. Logo (CNW Group/ Technologies Inc.)

The terms of the loan include the following:

  • The loan matures on July 2, 2022;

  • The loan bears interest at the annual rate of 12% compounded monthly and is payable when the loan is repaid; and

  • A commitment fee equal to 1% of the Loan is payable upon repayment of the Loan.

The net loan proceeds will be used to continue to advance BuildDirect’s strategy and for general working capital purposes of the company. The TSX Venture Exchange has been notified of the Notes pursuant to TSXV Policy 5.1 – Loans, Loan Bonuses, Finder’s Fees and Commissions.

Pelecanus, Lyra and Beedie Capital are insiders in that they hold 40.2%, 12.9% and 11.4%, respectively, of the issued and outstanding common shares of the Company on a partially diluted basis. As a result of the foregoing, the secured notes issued to the above entities constitute a related party transaction within the meaning of the multilateral instrument 61-101 Protection of holders of minority securities in special transactions (“MI 61-101The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements in sections 5.5(b) – Issuer not listed on specified markets and 5.7(1)(a) – Fair market value not exceeding 25% of market capitalization, respectively from MI 61-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About BuildDirect
BuildDirect (TSXV: BILD) is an innovative technology platform for buying and selling building materials online. The BuildDirect platform connects homeowners and home improvement professionals in North America with suppliers and sellers of quality building materials from around the world, including flooring, tiles, decking and more. BuildDirect’s growth, exclusive delivery network and digital reach have served to cement its role as a game changer in the home improvement industry. For more information, visit

Forward-looking information
This press release contains statements that constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding plans, intentions, the Company’s current beliefs and expectations regarding future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, ” esteem”, “expect” or similar expressions. These statements reflect management’s current beliefs and expectations and are based on information currently available to management as of the date hereof. Forward-looking statements involve significant risks, uncertainties and assumptions.

Forward-looking statements in this press release may include, but are not limited to, statements relating to BuildDirect’s use of loan proceeds and BuildDirect’s ability to repay the loan.

Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied by the forward-looking statements. These factors include changes in consumer spending, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other laws and regulations applicable to both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations, retention of key personnel and changes in terms economic, commercial and general policies. These forward-looking statements may be affected by risks and uncertainties in the Company’s business and general market conditions, including COVID-19.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described herein as anticipated, planned, anticipated, believed, estimated or expected. These factors should be carefully considered and readers should not place undue reliance on forward-looking statements.

Although the forward-looking statements contained in this press release reflect the Company’s expectations, estimates or projections regarding future results or events based on management’s beliefs, assumptions and estimates believed to be reasonable as of the date the statements are made, the Company cannot assure readers that actual results will be consistent with such forward-looking statements. There may be other risks, uncertainties and factors that cause results not to be as anticipated, estimated or intended and such changes could be material. These forward-looking statements are made as of the date of this press release, and BuildDirect undertakes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Contact Information: Investor Relations, Ashley Nuell[email protected]



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