RE:SNAPS Holding is providing the loanCIRO has "forced" the parties to release the name of the private equity firm who is providing the loan as well as giving some assurance they have the financial backing to provide the loan. This is a company with a 35 year history and a spokesperson stated;
"SNAPS views Novra as a strategic asset, leveraging its global market reach, engineering excellence, SaaS/cloud proficiency, and wireless technology expertise. By investing into Novra, SNAPS aims to strengthen its position as a driver of innovation in the communications market with the addition of one or more of SNAPS' unique flagship products into Novra's technology arsenal to support its continued success at a much higher growth rate"
and this gives transparency and legitimacy to the loan.