Chicago/Salt Lake City, UT – July 2015 – Madison Street Capital (“MSC”) acted as the exclusive financial advisor in arranging a $2,000,000 credit facility for its client, TruGolf Inc. The credit facility was provided by Grenville Strategic Royalty Corp (Grenville), a royalty-based finance company. The transaction was announced today by Charles Botchway, CEO of MSC and the transaction team was led by MSC Managing Director Lester (Jay) Rodgers.
“We are incredibly excited about our E6 Cloud and the exciting new features it brings to the market,” said Chris Jones, CEO of TruGolf. “It has been a pleasure working with Jay Rodgers and the Madison Street Capital team to grow our business. We look forward to our continuing relationship as we execute our growth model.”
“As an avid golfer it was pretty exciting to work with Chris and his team to put this facility in place. This is the first step in the execution of the plans laid out by TruGolf’s management, and we’re pleased to have been of assistance,” said Jay Rodgers, “We look forward to the next phase of our working relationship with the company.”
TruGolf Inc. creates and sells virtual golf simulation software, virtual golf simulation hardware and contents. For more than thirty years, the Company has been a leader in the online gaming and golf simulation space, creating world class titles such as the Links Series of Golf. The Company’s energetic future plans include an E6 Cloud Software based model to expand over a broad spectrum of hardware devices in commercial facilities, home-use consumer markets and mobile devices such as iPhones and iPads. To learn more visit www.trugolf.com
What started as a conversation between two successful entrepreneurs in 2012, has today become one of the fastest growing royalty-based finance companies in Canada. Grenville provides alternative financing to a diversified landscape of private and public businesses in North America. Servicing the gap between traditional debt and equity sources of capital, our approach is to deliver non-dilutive capital and positively impact the financial position of the businesses we engage. We call this Capital Simplified. Key to our Capital Simplified model is you – the business builder! The Grenville model is built on your success, whether you are an entrepreneur, a member of a family owned business or the CEO of a publicly traded company, your track record of financial performance is the focus of our due diligence process. Our investment structure is free of covenants, security, board seats or other forms of external control. From our initial meeting to funding, the Grenville team can typically close a transaction in 30 days. Please visit our website atwww.grenvillesrc.com.
About Madison Street Capital, LLC:
Madison Street Capital, is an international investment banking firm committed to integrity, excellence, leadership and service in delivering corporate financial advisory services, merger and acquisition expertise, financial opinions and valuation services to publicly and privately held businesses. These services position our clients to succeed in the global marketplace. In undertaking each new project, the client’s goals and objectives become ours, ranging from financial advisory and successful capital raises to M&A transactions to transfers of ownership. Madison Street Capital views emerging markets as the core component driving the global growth of our clients, and will continue to focus significant assets on these markets. Our firm has earned the trust of clients around the world through our unwavering dedication to the highest levels of professional standards. For additional information, please visit our website atwww.madisonstreetcapital.com.