Techlink Investment

Apr 8, 2014

Nova Scotia Business Inc. (NSBI) amended the terms and conditions of its investments in Tech Link International Entertainment Ltd. (Techlink), today, April 8, allowing for $2.5 million of new investment from private investors.

Techlink

The amendment does not include new investment dollars from NSBI, but allows the private investors to join NSBI as equal creditors, using the company's assets as security. The new private funds enable the company to expand in new markets and conclude preparations to move into its new office space.

"The new facilities will allow the company to strengthen operational efficiencies and meet market demands faster," said Techlink board member, Ulf Snarby. 

The company provides products to customers in the gaming industry and has demonstrated its ability to develop innovative gaming solutions while increasing its market share.

"Techlink has grown steadily over its history and remains intensely focused on strategic markets, making the company a truly distinctive player in the gaming industry," said David Read, board member of Techlink.

Techlink has about 250 shareholders inside and outside the province. Since 2004, NSBI has been an investor in Techlink. Presently, NSBI has $8 million invested in the company through equity investments and outstanding loan amounts. The company has also attracted almost $22.5 million in private investment. 

"NSBI works with its clients to encourage growth,” said Ron Smith, interim CEO of NSBI. "NSBI was able to take action without committing new public dollars, resulting in new private sector investment in the company."