Viafoura

Viafoura, a Toronto, Ontario-based technology company that provides an audience engagement platform for media, broadcast, and entertainment brands, filed an NOI on December 1. Founded in 2012, the company has not yet achieved profitability and is averaging a cash burn of approximately $325.0 thousand per month. On November 29, the company was unable to fund its payroll, and secured lenders National Bank and Espresso Capital advised that they were not prepared to advance additional funding to the business. Requiring an immediate injection of capital to restore employee confidence and maintain the value of the business, the company filed an NOI and negotiated a DIP loan from one of its preferred shareholders, Intercap. KSV is the proposal trustee. Counsel is DLA Piper for the company and Intercap, Chaitons for the proposal trustee and BLG for National Bank.