TORONTO, ONTARIO – Thursday, February 2, 2006 – MMV Financial Inc., a Canadian specialty finance company, announces the closing of a US$4.0 million venture loan to Decision Dynamics Technology Ltd. (TSX-V: DDY), the leading provider of asset lifecycle management solutions for the energy industry. The Company has drawn down US$2.0 million and has the option of drawing down the balance upon hitting certain milestones.
Headquartered in Calgary, Alberta, DDY (http://www.ddytech.com/) is the result of a combination of Malibu Engineering and Software, an enterprise software company specializing in workflow automation solutions , and Time Industrial, an enterprise software company focused on contractor management solutions. Initially focused on the oil and gas and utilities industries, DDY’s solutions create decision making environments that enable companies undertaking large capital investment programs to make and deploy better solutions faster DDY’s customers include some of the largest and most innovative energy companies in the world including Devon Energy Corporation, Encana, Talisman Energy and Husky Energy.
“Decision Dynamics’ brings together a unique group of products that address a significant customer base, serving a large market with a straightforward value proposition” said Brian Faughnan, SVP, MMV Financial. “The Company is led by a strong management team with significant expertise and extensive contacts in the oil and gas, and utilities industries.
Cecil Shewchuk, President and CEO of DDY said, “During the recent quarter we reduced the Company’s burn rate to manageable levels, so with over Cdn$5.0 million of cash in the bank, we are now well positioned for aggressive growth. Additionally we have continued to make progress towards our strategic technology and sales milestones"
About MMV Financial
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to mid-stage technology and life sciences companies, with a focus on the Canadian and North American sectors. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners of Hartford, Connecticut, Caisse de dépôt et placement du Québec of Montreal, and Wells Fargo Foothill, a part of Wells Fargo Company. For more information visit http://www.mmvf.com/
For more information contact:
Brian F. Faughnan
Senior Vice President
MMV Financial Inc.
Tel: (416) 977-9718
Fax: (416) 591-1393
Copyright ©2006 MMV Financial Inc. All rights reserved.