ATF Artaflex

Artaflex Inc. (TSX VENTURE:ATF) ("Artaflex"), a specialist at delivering
integrated product solutions and support to the global technology and
electronics industry, announced today the hiring of Frank Skerlj as its new
Chief Financial Officer and that it closed a refinancing of its asset-based
credit facility with Royal Bank of Canada ('RBC").


Paul Walker, Chief Executive Officer of Artaflex comments "We are extremely
pleased to have someone with Frank's experience and depth of knowledge in the
EMS industry heading up our finance team. Frank, myself and Phil Woodard, our
Chief Operating Officer, have all worked together in the past building our
previous company SMTC, and it is this cohesiveness that made this hiring very
attractive to us. Frank's background overseeing a multi-site, international
organization throughout Canada, the U.S. and Mexico will be beneficial as we
move Artaflex through its next phase of growth." Mr. Skerlj replaces Jonathan
Szczur as Chief Financial Officer of Artaflex and Artaflex's predecessor
Adeptron Technologies Corporation ("Adeptron"). Mr. Skerlj's appointment is
subject to acceptance by the TSX Venture Exchange.


Artaflex also announced today that it has closed, effective May 24, 2012, a
refinancing of a $10 million asset-based credit facility with RBC (which
represents a consolidation of, and increase to, separate asset-based credit
facilities that Artaflex and Adeptron each previously had with RBC). The
asset-based credit facility matures on March 20, 2014.


Loans under the asset-based credit facility are available by way of Canadian
Dollar loans and U.S. Dollar loans which bear interest at RBC's prime rate or
U.S. base prime rate, respectively, plus 175 bps. Letters of credit are also
available under the asset-based credit facility.


"We very pleased with the terms of the refinanced asset-based credit facility
and are pleased to continue our relationship with RBC and look forward to
working with RBC in the future. The asset-based credit facility will positively
support operations and the future growth of our business", commented Frank
Skerlj, the new Chief Financial Officer.


About Artaflex:

Artaflex is a specialist at delivering integrated product solutions and support
to the global technology and electronics industry. As a leading global provider
of complete Electronics Manufacturing Services (EMS), Artaflex offers world
class manufacturing facilities and global partners throughout Canada, the United
States, Israel and China, allowing Adeptron to provide its customers the
flexibility and scalability to competitively achieve total solutions to their
present and future electronics outsourcing needs. Visit Artaflex at:
www.artaflex.com.


THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION
RELATING TO SUCH MATTERS AS EXPECTED FINANCIAL PERFORMANCE, BUSINESS PROSPECTS,
TECHNOLOGICAL DEVELOPMENTS, DEVELOPMENT ACTIVITIES AND LIKE MATTERS. THESE
STATEMENTS INVOLVE RISK AND UNCERTAINTIES, INCLUDING BUT NOT LIMITED TO RISK
FACTORS DESCRIBED IN DOCUMENTS FILED WITH REGULATORY AUTHORITIES. ACTUAL RESULTS
COULD DIFFER MATERIALLY FROM THOSE PROJECTED AS A RESULT OF THESE RISKS AND
SHOULD NOT BE RELIED UPON AS A PREDICTION OF FUTURE EVENTS. THE CORPORATION
UNDERTAKES NO OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS TO REFLECT
EVENTS OR CIRCUMSTANCES AFTER THE DATE ON WHICH SUCH STATEMENT IS MADE, OR TO
REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.


The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release.

Grafico Azioni Artaflex (TSXV:ATF)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Artaflex (TSXV:ATF)
Storico
Da Giu 2023 a Giu 2024