Netskrt Systems Inc. closes Class A preferred share financing

On April 2, 2024, Netskrt Systems Inc. ("Netskrt") secured financing in the first tranche of their Class A Preferred Share for aggregate gross proceeds of approximately C$10,375,000 in Class A-1 Preferred Shares. The financing also triggered the issuance of Class A-2 Preferred Shares pursuant to the conversion of simple agreements for future equity representing an aggregate of C$7,913,005.96 in previously invested funds.

Netskrt combines extreme-edge CDN technology with multicasting support, giving MNOs a standards-based mechanism to provide their customers with the experience they expect from 5G—unfettered high-bandwidth access to streaming video anywhere they go.

McCarthy Tétrault assisted Netskrt with a team let by David Frost and Maureen Gillis that included Alexandra Comber and Matthew Yensen (Business).