Listen to this articleBelow is our recent interview with Kalvie Legat, EVP, Head of Business Development at CE Brands:
Q: Could you provide our readers with a brief introduction to your company?
A: CE Brands is a consumer product company that leverages A.I. to identify gaps in the consumer electronics market. We partner with Global brands and world class factories to provide the products and features consumers want.
Q: Any highlights on your recent announcement?
A: This facility allows us to support the revenue-generating potential of our expanding portfolio of branded products.
Q: Can you give us more insights into your offering?
A: The Company has entered into a financing arrangement with Vesta, pursuant to which Vesta has agreed to provide a secured revolving credit facility of up to CA$12,000,000 to the Company to be used for the working capital needs. The Credit Facility will be based upon the lending formulas of up to ninety (90%) percent of the net amount of eligible accounts receivable of any one purchase order. Eligible accounts receivable and the net amounts thereof will be determined by us pursuant to general criteria which will be set forth in the loan documentation filed on SEDAR. Interest Rates in respect of loan obligations will be one 1% percent of all outstanding Amounts per month, calculated daily and payable. The Credit Facility will be secured by general security agreements over all present and futures assets of the Company. Although the financing arrangement requires certain conditions for financing to occur, including the negotiation and completion of certain definitive agreements, the Company drew down its first advance under this Credit Facility of US$231,229, on December 16, 2022.
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Q: What can we expect from your company in next 6 months? What are your plans?
A: We are presenting at CES 2023 in Las Vegas where we will be unveiling the new motowatch collection. See invitation here
Q: What is the best thing about your company that people might not know about?
A: We sell in over 70 countries globally and are partnered with some of the world’s largest brands and sell through some of the worlds largest retailers.
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