Daily News: December 17, 2012

BDC Provides First Installment of TrueContext $1MM Facility


TrueContext Mobile Solutions, a mobile data solutions company, completed the first disbursement of $500,000 from its previously announced five-year, $1 million secured term credit facility with BDC Capital. The credit facility provides for the disbursement of funds in stages, subject to the company achieving specific milestones.

The net proceeds from the facility are intended to be used for operations and working capital purposes.

TrueContext is a mobile data solutions company that has a proprietary patent portfolio, which includes mobile and Web app ProntoForms.