From the Chronicle Herald on Thursday, February 11, 2010:
Techlink borrowing $216,000 from N.S.
CAPE BRETON -- The province is lending $216,000 to Techlink Entertainment in Cape Breton.
"It is a working capital loan," aimed at providing short-term financing for the company, said Sarah Levy of Nova Scotia Business Inc.
The Sydney firm makes video lottery terminals and a unique technology that helps VLT players track their wins, losses and how much they are spending.
Before this recent loan, the province’s business lending arm already had a $3-million stake in the firm.
"What we have in this company is we hold equity in the form of convertible debentures, which means we can convert them into shares," Levy said.
Nova Scotia Business Inc. announced a $2-million investment in Techlink in September 2004. It added another $1 million to that in April 2006.
