Brief: Sito Mobile says got purported notice of default and acceleration of obligations under a revenue sharing and note purchase agreement

Sito Mobile

26/07/2017 14:22

July 26 (Reuters) - Sito Mobile Ltd  SITO.O  
    * Sito Mobile - on July 26, co got purported notice of 
default and acceleration of obligations under a revenue sharing 
and note purchase agreement 
    * Sito Mobile Ltd says as of June 30, there was 
approximately $4.5 million aggregate principal amount 
outstanding under loan agreement - SEC filing 
    * Sito Mobile Ltd - purported notice of default alleges, 
that company had undergone a change of control under terms of 
loan agreement 
    * Sito Mobile Ltd -  company is "confident and hereby 
asserts that no event of default has occurred or is continuing 
under npa or loan documents" 
    * Sito Mobile-revenue sharing & note purchase agreement, 
dated October 3, 2014, is among Sito Mobile Solutions, Sito 
Mobile Research and Development, Fortress Credit, CF DB EZ LLC 
 
Source: (http://bit.ly/2uYGCKT) 
Further company coverage:  SITO.O  
 
 ((bangalore.newsroom@thomsonreuters.com;))