TAAL Distributed Information Technologies Inc. announced that it has entered into a term loan agreement with a private lender (the "Lender") providing for debt financing in an aggregate principal amount of $10,000,000. The Lender has made immediately available the full financing under the Loan in an amount equal to $10,000,000. Borrowings under the Loan are secured by a general security agreement over all the assets of the Company. The security will rank pari passu with any future debt of the Company, from other lenders, up to a maximum $100,000,000. The Loan matures on December 31, 2024 and bears interest of 8% annually which is payable quarterly at the end of March, June, September, and December of each year. The Loan may be prepaid at any time by the Company, together with all outstanding interest, after December 2, 2022.