(Vancouver, BC, August 5th, 2015) GreenAngel Energy Corp. (“GreenAngel”) (TSX-V:GAE) is pleased to announce it has purchased its first Revenue Based Financing into Lambda Solutions Inc. (“Lambda”) for a purchase price of $1 Million; $500,000 upon close and $500,000 in Q1, 2016 at both parties’ option.
In exchange for this purchase, GreenAngel will receive a monthly royalty on gross revenue until a defined maximum amount has been reached.
Vancouver based technology firm, Lambda Solutions Inc. is a world leader in Cloud Learning Management Systems, providing both proprietary and customized open source learning solutions as well as cloud hosting and training to a global customer base. Lambda Solutions recently closed a huge market gap with their LMS reporting solution, Lambda Analytika, to help learning and talent development departments prove their impact on the bottom line while also providing in-depth compliance reporting to help organizations decrease their compliance burden.
Proceeds from the investment will be used to expand sales capabilities as well as continued product expansion.
Mike Walkinshaw, Director of GreenAngel, said “We are very excited to be able to support a world class SAAS company with our unique finance offering. Lambda’s management team has shown great vision in positioning their company on the world stage for this strong opportunity. We are able to provide a product that fits between equity and debt, preserving value for their existing shareholders while providing flexibility that debt cannot provide.”
Shevy Levy, CEO of Lambda commented “GreenAngel provides the technology sector with an innovative financing option and we look forward to continue the growth of our Learning Management SAAS business. This new financing will undoubtedly propel us into a rapid phase of growth.”
About Lambda Solutions Inc.
Vancouver based Lambda Solutions Inc. is a recognized world leader in eLearning technology and the leading open source learning management systems, Moodle and Totara. Lambda Solutions are experts at reducing the cost of organizational learning delivered through open source technology, fast implementation and Lambda’s cloud infrastructure. With responsive and proven expertise from over 600 customer implementations, Lambda Solutions ensures fast and efficient Totara and Moodle set-up, so time to launch is weeks not months. More than half a million people learn on Lambda’s cloud hosting platform every day.
About GreenAngel Energy
GreenAngel Energy Corp. is a Revenue Based Financing company that purchases future revenue streams from technology and industrial companies in western Canada. This new financing option complements both debt and equity financing while allowing entrepreneurs to retain control of their own business. In addition, GreenAngel continues to manage existing investments in the clean energy sector, as well as providing strategic and business advisory services to ensure these companies achieve success.
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 news release.
ON BEHALF OF THE BOARD
Michael C Volker
Chairman and Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s issuance of Units, acceptance of the offering by the TSX Venture Exchange and the Company’s use of the proceeds of the offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any obligation to update the forward-looking statements except as required by law.