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Elephant Talk (ETAK) Announces Refinancing, Commercial Update

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Elephant Talk Announces Refinancing and Commercial Update

August 15, 2016 6:08 PM EDT

NEW YORK, Aug. 15, 2016 /PRNewswire/ -- Elephant Talk Communications Corp. (NYSE MKT: ETAK) ("ET" or the "Company"), a provider of cloud-based mobile network solutions, today announced that it had reached agreement in principle with its senior secured lender to increase and restructure its existing $6 million loan.

Under the terms of the proposed Second Amendment, the senior secured lender will increase the loan facility by $1,202,447, waive the Company's existing defaults under the financial covenants and will reset the agreed... More