Connect with us

Technology

TERAGO, CrowdOut Capital and Cymbria Corporation amend certain terms of Credit Agreement

Published

on

TORONTO, March 31, 2025 /CNW/ – TERAGO Inc. (“TERAGO” or the “Company”) (TSX: TGO) (https://terago.ca/), today announced it, CrowdOut Capital LLC (“CrowdOut”) and Cymbria Corporation (“Cymbria“) executed a Second Amendment to the Credit and Guaranty Agreement (the “Second Amending Agreement”), which amends certain terms of the Credit and Guaranty Agreement entered into between, inter alios, CrowdOut and the Company as of September 29, 2022 (the “Original Agreement”), as amended by the First Amendment to Credit and Guaranty Agreement dated as of May 29, 2024 among CrowdOut, Cymbria and the Company relating to the Company’s secured debt facility (the “First Amending Agreement”, collectively with the Original Agreement and the Second Amending Agreement, the “Credit Agreement”). The Second Amending Agreement serves to increase the amount of the secured debt facility from US$19 million to US$21 million, while maintaining consistency with the initial framework of the Credit Agreement, with the US$2 million increase in the secured debt facility funded by Cymbria.

Cymbria is pleased to provide additional capital to TERAGO to support the Company’s continued momentum.  With the recent ISED consultation we are confident that TERAGO will retain and leverage its valuable mmWave spectrum licenses to seize new opportunities and drive innovation as market adoption of Fixed Wireless Access and 5G networks accelerates.” said Frank Mullen, Chief Investment Officer, Edgepoint Investment Group.

In connection with the Second Amending Agreement, subject to Toronto Stock Exchange (the “TSX”) approval, the Company has agreed to issue 800,000 common share purchase warrants (each, a “Warrant”, and collectively, the “Warrants”) to Cymbria (the “Private Placement”). Each Warrant, entitles Cymbria to subscribe for and purchase, one fully paid common share in the capital of the Company (each, a “Common Share”), until 5:00 p.m. (Toronto time) on March 30, 2028, at a price per Common Share as follows:

200,000 Warrants at a price per common share of $2.50;200,000 Warrants at a price per common share of $2.00;200,000 Warrants at a price per common share of $1.50; and200,000 Warrants at a price per common share of $1.00.

As EdgePoint Investment Group Inc., the portfolio manager of Cymbria, is a related party of the Company, the Second Amending Agreement and the issuance of the Private Placement will constitute “related party transactions” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and are subject to the formal valuation and minority approval requirements thereof, as applicable, unless an exemption is available. It is the intention of the Company to rely on the exemptions in Sections 5.5(a) and 5.7(1)(a) (Fair Market Value Not More Than 25% of Market Capitalization) of MI 61-101 for the Private Placement and Section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101 for the Second Amending Agreement.

The Company has filed the Second Amending Agreement, which is now available on SEDAR+ at www.sedarplus.ca.

About TERAGO
TERAGO provides managed network and security services to businesses across Canada. ensuring highly secure, reliable, and redundant connectivity including private 5G wireless networks, Fixed Wireless access, fiber, and cable wireline network connectivity. As Canada’s biggest mmWave spectrum holders, the Company possesses spectrum licenses in the 24 GHz and 38 GHz spectrum bands, which it utilizes to provide secure, dedicated SLA guaranteed enterprise grade performance that is technology diverse from buried cables ensuring high availability connectivity services. TERAGO serves over 1,800 Canadian and Global businesses operating in major markets across Canada, including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless services since 1999. For more information about TERAGO and its suite of wireless internet and SD-WAN solutions, please visit www.terago.ca.

Forward-Looking Statements
This news release may contain words considered forward-looking statements or information under applicable securities laws, including but not limited to the receipt of TSX approval. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond TERAGO’s control. Forward-looking statements may include but are not limited to statements regarding the further developing our 5G Fixed Wireless Access program, consistently executing across all fronts of the business, success in providing Canadian enterprises with managed services and the 5G fixed wireless trials being conducted by the Company. All such statements constitute “forward-looking information” as defined under, applicable Canadian securities laws. Any statements contained herein that are not statements of historical facts constitute forward-looking information. The forward-looking statements reflect the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those risks set forth in the “Risk Factors” section in the Annual Information Form for the year ended December 31, 2024 and risks set forth in the “Financial Risk Management” section in the annual MD&A of the Company for the year ended December 31, 2024 available on www.sedarplus.ca and under the Company’s corporate profile. Factors that could cause actual results or events to differ materially. include the inability to consistently achieve sales growth across all lines of TERAGO’s business including managed services, inability to complete successful 5G technical trials, the results of the 5G trials not being satisfactory to TERAGO or any of its technology partners, regulatory requirements may delay or inhibit the trial, the economic viability of any potential services that may result from the trial, the ability for TERAGO to further finance and support any new market opportunities that may present itself, and industry competitors who may have superior technology or are quicker to take advantage of 5G technology. Accordingly, readers should not place undue reliance on forward-looking statements as several factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed with the forward-looking statements. Except as may be required by applicable Canadian securities laws, TERAGO does not intend, and disclaims any obligation, to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise.

SOURCE TeraGo Inc.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Changes in UPM’s Group Executive Team: Joonas Rauramo appointed Executive Vice President, UPM Energy

Published

on

By

UPM-Kymmene Corporation Stock Exchange Release (Changes board/management/auditors) June 3, 2026 at 10:00 EEST

HELSINKI, June 3, 2026 /PRNewswire/ — Joonas Rauramo has been appointed Executive Vice President, UPM Energy. He will be a member of UPM’s Group Executive Team and report to Massimo Reynaudo, President and CEO. He will assume his role on October 1, 2026 and will be based in Helsinki, Finland.

Rauramo, born in 1983, will join UPM from Coolbrook Oy where he has served as CEO since 2022 and prior to that as Executive Vice President, Strategy & Industrial Partnerships. From 2007 to 2021, he held various roles at Fortum, most recently as Vice President, Wind and as Vice President, Solar & Wind Development. He serves as a board member at Korkia, and as a member of the IEA Technology and Innovation Advisory Board. Rauramo has Master of Science in Technology from Helsinki University of Technology and Master of Science in Economics from Aalto University School of Economics. He is a Finnish citizen.

“I’m delighted to welcome Joonas to UPM. He brings extensive experience in power generation and industrial decarbonisation, as well as deep expertise in energy markets, project financing, M&A and building global partnerships. These are capabilities that are increasingly critical as demand for reliable, emission-free electricity continues to grow and the energy system undergoes profound transformation. With Joonas on board, we continue to develop our energy business further and contribute to the transition towards a sustainable and resilient energy future,” says Massimo Reynaudo.

UPM, Media relations
Mon-Fri 9:00-16:00 EEST
tel. +358 40 588 3284
media@upm.com

UPM

UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers. Our performance in sustainability has been recognized by third parties, including EcoVadis and the Dow Jones Sustainability Indices. We operate globally and employ approximately 15,100 people worldwide, with annual sales of approximately €9.7 billion. Our shares are listed on Nasdaq Helsinki Ltd.
UPM – we renew the everyday
Read more: upm.com 

Follow us on LinkedIn | YouTube | Instagram | #UPM #materialsolutions #WeRenewTheEveryday 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/upm-kymmene-oyj/r/changes-in-upm-s-group-executive-team–joonas-rauramo-appointed-executive-vice-president–upm-energy,c4356924

The following files are available for download:

 

View original content:https://www.prnewswire.co.uk/news-releases/changes-in-upms-group-executive-team-joonas-rauramo-appointed-executive-vice-president-upm-energy-302789862.html

Continue Reading

Technology

Helsinki Invites International Companies to Explore R&D Partnerships in Life Sciences and AI & Deep Tech

Published

on

By

HELSINKI, June 3, 2026 /PRNewswire/ — Helsinki Partners, together with the City of Helsinki and the University of Helsinki, is inviting international companies to explore research and development partnerships at two of the city’s leading innovation environments. Through the 90 Hour Helsinki Program, senior decision makers from established companies and scaleups are currently exploring Finland’s business ecosystem over three intensive days, meeting relevant organisations and exploring partnership opportunities for AI & Deep Tech R&D.

For many international companies, R&D expansion comes with real barriers: lack of specialist talent, limited access to laboratory or cleanroom space, and the high cost of building local infrastructure. Helsinki innovation partnerships address these challenges directly – instead of investing heavily in facilities and hiring from scratch, companies can get straight to work with partner organisations, researchers, and thesis students.

Helsinki’s innovation clusters drive global breakthroughs

The 90 Hour Helsinki Program gives access to two university-driven innovation clusters: Viikki is a leading ecosystem for life sciences, biotech, and sustainability, and Kumpula for AI and deep tech research. Both clusters align with the University of Helsinki’s Future Technologies research area, which emphasises responsible and ethical approaches to new technologies.

“Our research is rooted in both scientific excellence and responsibility,” said Jouni Hirvonen, Vice-Rector of Innovation, Infrastructures and Facilities at the University of Helsinki. “Collaborating with international companies allows us to commercialise and scale innovations that both advance technology and contribute to sustainable and ethical solutions for society.”

Organisations active across the clusters include the Natural Resources Institute Finland, HiLIFE, the Ellis Institute, the Finnish Center for Artificial Intelligence (FCAI), and the LUMI AI Factory. Participants choose the track most relevant to their business and spend the day with researchers, companies, and ecosystem partners on that campus.

R&D without the upfront investment

Finland’s R&D funding landscape and cost-efficient operating environment make Helsinki one of the most practical locations in Europe for early-stage collaboration. For companies outside of the EU region, the city offers a stable European base at a time when trade conditions are shifting, with direct flight connections to major cities across Asia and Americas.

“Helsinki offers a unique environment where companies can directly engage with top research, advanced facilities, emerging talent, and the exciting startup culture,” said Heidi Humala, Director, Business Environment at Business Helsinki, City of Helsinki. “Through close collaboration, Helsinki enables private companies to accelerate their R&D without the need for heavy upfront investments.”

Innovation partnerships in practice

ASM, a global leader in semiconductor equipment, has been working with the University of Helsinki for more than two decades. The company expanded its collaboration in 2022 with the launch of the ALD Center of Excellence, a new centre focused on developing advanced materials for next-generation microchips used in AI systems, medical devices, and energy-efficient electronics.

This long-term partnership is one example of the public-private co-innovation that Helsinki supports, and that the 90 Hour Helsinki Program is designed to build.

“Helsinki is known for its trust-based business culture and functional public–private partnerships,” said Clarisse Berggårdh, CEO at Helsinki Partners. “By joining the 3-day 90 Hour Helsinki Program, companies can experience this culture firsthand and start building meaningful collaborations.”

Applications are now open for the 90 Hour Helsinki Program taking place 28–30 September, 2026. The application period closes on 14 August, 2026.

Read more and apply here.

                                   

                                   

Facts at a glance                           

                                               

•  Helsinki is the most cost-efficient city in Europe for biotech and pharma R&D

                                               

•  The Helsinki region ranks 1st in the EU for innovative SMEs collaborating with others

                                               

•  The region also leads in R&D expenditure in the business sector and international scientific co-publications

                                               

•  The University of Helsinki ranks in the top 1% of universities globally

                                               

•  ASM‘s partnership with the University of Helsinki spans more than 20 years

                                   

                                     

                                   

For more information, please contact:

Eelis Torvinen
Marketing & Communications Manager, Helsinki Partners
eelis.torvinen@helsinkipartners.com

Sonja Malin
Senior Advisor, Helsinki Partners
sonja.malin@helsinkipartners.com
+358 400 175 636

About the 90 Hour Helsinki Program and Helsinki Partners

The 90 Hour Helsinki Program, organised by Helsinki Partners, gives senior decision makers direct access to Helsinki’s life sciences and deep tech ecosystems over three intensive days. The programme includes briefings on the Finnish business environment, visits to research organisations and companies, and tailored meetings across the Viikki and Kumpula campuses. Helsinki Partners covers accommodation during the programme for up to four days for one representative per company.

Helsinki Partners is the City of Helsinki’s international investment promotion and city marketing company, providing free expansion services for businesses looking to establish a presence in Finland.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/helsinki-partners/r/helsinki-invites-international-companies-to-explore-r-d-partnerships-in-life-sciences-and-ai—deep-,c4356274

The following files are available for download:

View original content:https://www.prnewswire.com/apac/news-releases/helsinki-invites-international-companies-to-explore-rd-partnerships-in-life-sciences-and-ai–deep-tech-302789886.html

SOURCE Helsinki Partners

Continue Reading

Technology

Corrata Reimagines Mobile Device Security for the AI Era

Published

on

By

Company investing in bespoke on-device LLM for privacy-compliant mobile threat detection as AI reshapes the attack landscape

DUBLIN and LONDON, June 3, 2026 /PRNewswire/ — Infosec Europe, ExCeL London — Corrata, the mobile endpoint security company, today announced a comprehensive reimagining of its approach to mobile device security in response to the rapid transformation of the threat landscape by artificial intelligence. The announcement encompasses new AI governance capabilities, enhanced data loss prevention, and a commitment to developing a bespoke on-device large language model (LLM) for next-generation mobile threat detection.

 

 

“The device in your employee’s pocket is simultaneously connected to AI tools, targeted by AI-powered attackers, and operating in an environment where the threat landscape is being rewritten in real time,” said Colm Healy, CEO of Corrata. “The controls deployed two or three years ago were not built for this world. We have rebuilt ours to match it.”

How AI Is Reshaping the Mobile Threat Landscape

Mobile devices sit at the epicentre of three distinct AI-driven risk dimensions that security teams must now contend with simultaneously.

Hyper-personalised social engineering. AI has transformed phishing from a numbers game into targeted precision. Attackers now use large language models to construct lures from publicly available data, producing messages indistinguishable from genuine communications. Research puts the click-through rate on AI-generated phishing at 54%, against 12% for traditional campaigns. On mobile, where 85% of phishing attacks already occur outside email, across SMS, WhatsApp, Teams and other messaging channels, the impact is acute.

AI-accelerated exploits. In May 2026, Google Threat Intelligence Group confirmed a real-world threat actor had used a zero-day exploit developed with AI, planned for mass exploitation and only stopped by proactive counter-discovery. Finding and weaponising vulnerabilities no longer requires deep expertise or months of effort. The median time from disclosure to active exploitation had already fallen from 771 days in 2018 to single-digit hours before frontier AI models entered the picture. Mobile is particularly exposed, where apps are deployed quickly and sometimes outside the review processes that govern traditional software.

Shadow AI and data loss. When employees find that an AI tool makes them more productive, they use it, approved or not. Research suggests 43% of employees share corporate data with LLMs without authorisation. On mobile, where personal and professional boundaries are already blurred, the exposure is acute: sensitive documents uploaded to consumer AI services, client details pasted into chatbots, proprietary code submitted for debugging. Institutional knowledge is leaving organisations at an unprecedented rate, with no visibility and no controls in place.

How Corrata Is Responding

Corrata has always been built on a simple premise: mobile devices deserve the same depth of security monitoring as laptops and servers. Its on-device architecture inspects 100% of network traffic without routing it through a cloud relay, a visibility advantage no competitor has matched. In the AI era, that foundation becomes more important, not less. Corrata has now extended it across three areas.

On-device LLM for enhanced threat detection. The vast majority of mobile traffic is now encrypted, and current detection methods will struggle against the more sophisticated social engineering and exploit techniques that AI is enabling. Corrata is developing a custom on-device LLM purpose-built for the mobile environment. It will analyse traffic patterns, behavioural signals and connection metadata to surface threats hidden within encrypted sessions, on the device itself, in real time, with no data leaving the phone.

AI governance for the mobile workspace. Corrata’s AI Governance capability lets organisations define which AI services and SDKs are sanctioned in the mobile workspace and enforces those policies automatically. Approved tools are unaffected; access to unsanctioned services, including consumer chatbots, AI coding assistants and embedded LLM SDKs in third-party apps, is flagged or blocked. As AI governance frameworks including ISO 42001 and the EU AI Act mature, mobile is the enforcement gap most organisations have yet to close. Corrata closes it.

Precision mobile DLP for the AI age. Data leakage via mobile is no longer confined to lost devices or unencrypted email. AI tools are now a primary exfiltration channel. Corrata’s enhanced data loss prevention uses fine-grained traffic analysis to detect sensitive corporate data being transmitted to external services, whether deliberately or inadvertently, enabling security teams to act on genuine data loss events rather than chase false positives.

“Corrata brings together the deepest visibility into mobile traffic of any solution on the market with a new generation of AI-native capabilities built for the threats that matter most right now,” said Colm Healy.

Availability

Corrata’s AI Governance and enhanced DLP capabilities are available now. The on-device LLM is in active development, with availability to be announced. Organisations wishing to learn more or request a demonstration should visit corrata.com.

About Corrata

Corrata is a mobile endpoint security company headquartered in Dublin, Ireland. Its on-device technology delivers comprehensive threat detection and response for iOS and Android devices, combining advanced mobile threat defence with data loss prevention and AI governance. Corrata is a member of the Microsoft Intelligent Security Association (MISA), verified for use with FirstNet, and is accredited as ‘Cybersecurity Made in Europe’ by ECSO. For more information, visit corrata.com.

Logo: https://mma.prnewswire.com/media/2987647/Corrata_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/corrata-reimagines-mobile-device-security-for-the-ai-era-302785866.html

Continue Reading

Trending