FLINT extends maturity date of Credit Facility, Term Loans and Senior Secured Debentures
31 Maggio 2024 - 11:00PM
FLINT Corp. (“
FLINT” or the
“
Company”) (TSX: FLNT) today announced that it has
extended the maturity dates of (i) its Asset-Based Revolving
Credit Facility with The Toronto-Dominion Bank that provides for
maximum borrowings of up to $50 million to April 14, 2027
(previously April 14, 2025), (ii) its Term Loan Facility with Canso
Investment Counsel Ltd., in its capacity as portfolio manager for
and on behalf of certain accounts that it manages, that provides
for maximum borrowings of up to $40.5 million to October 14,
2027 (previously October 14, 2025), and (iii) its 8% Senior Secured
Debentures to October 14, 2027 (previously March 23, 2026).
“We value our relationship with TD Bank and
Canso and appreciate the commitment they have shown by extending
the maturity date of their respective loans. Their on-going support
is pivotal as we continue to execute our organic growth strategy
that targets both industrial end market and geographic
diversification,” said Barry Card, Chief Executive Officer.
As at March 31, 2024, no amounts were drawn on
the Asset-Based Revolving Credit Facility, $40.5 million was
outstanding under the Term Loan Facility and $130.1 million of
Senior Secured Debentures were outstanding.
Copies of the amending agreements for the
Asset-Based Revolving Credit Facility, the Term Loan Facility, and
the Senior Secured Debentures will be available shortly through
SEDAR+ at www.sedarplus.ca.
About FLINT Corp.
With a legacy of excellence and experience
stretching back more than 100 years, FLINT provides solutions for
the Energy and Industrial markets including: Oil & Gas,
(upstream, midstream and downstream), Petrochemical, Mining, Power,
Agriculture, Forestry, Infrastructure and Water Treatment. With
offices strategically located across Canada and a dedicated
workforce, we provide maintenance, turnaround, construction, wear
technology and environmental services that help our customers bring
their resources to our world. For more information about FLINT,
please visit www.flintcorp.com or contact:
Barry CardChief Executive OfficerFLINT Corp.(587)
318-0997investorrelations@flintcorp.com |
Jennifer StubbsChief Financial OfficerFLINT
Corp. |
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