Elephant Talk secures new funding from senior secured lender

Elephant Talk Communications Corp. (NYSE MKT: ETAK) has reached agreement in principle with its senior secured lender to increase and restructure its existing USD6.0 million loan, the company said.

Under the terms of the proposed second amendment, the senior secured lender will increase the loan facility by USD1,202,447, waive the company´s existing defaults under the financial covenants and will reset the agreed maturity date to December 31, 2016.

Elephant Talk Communications Corp. is a provider of cloud-based mobile network solutions delivered over the web.