Inventronics Announces New Long-Term Loan
26 Aprile 2012 - 10:00PM
PR Newswire (Canada)
CALGARY, April 26, 2012 /CNW/ - Inventronics Limited
("Inventronics" or the "Corporation") , a designer and manufacturer
of custom enclosures for the telecommunications, electric
transmission, cable television and other industries in North
America, is pleased to announce that it has accepted a commitment
from the Business Development Bank of Canada (the "BDC") to provide
a $2,400,000 long-term loan to the Company. The loan will be used
to fully repay and discharge the Corporation's current term loan in
the amount of $2,279,000 with BMO Bank of Montreal which matured on
March 31, 2012. The BDC loan will have a term of 30 years and
the interest rate will be fixed for five years at a rate of 7.1% at
which time the interest rate will be subject to adjustment in
accordance with the loan documents. The BDC loan will be secured by
a mortgage on the Corporation's production facility in Brandon,
Manitoba and a security interest in all of the Corporation's
present and after acquired personal property. In addition, each of
Dan Stearne, Garth Wilson, Dan O'Greysik and Tracy Dobson will
provide personal guarantees of the Corporation's obligations
pursuant to the BDC Loan. Each of Messrs. Stearne, Wilson and
O'Greysik and Ms. Dobson are directors and members of management of
the Corporation. In addition, Messrs. Stearne, Wilson and O'Greysik
and Ms. Dobson collectively hold all of the issued and outstanding
shares of 1437891 Alberta Ltd., a corporation which presently holds
3,020,000 common shares of the Corporation representing
approximately 69% of the issued and outstanding shares of the
Corporation. About Inventronics Inventronics Limited designs and
manufactures custom enclosures and other products for an array of
customers in the telecommunications, electric utility, cable
television, electronics and computer services industries in North
America. The Corporation owns its ISO 9001-registered production
facility in Brandon, Manitoba. Shares of Inventronics trade on the
TSX Venture Exchange under the symbol "IVX." For more information
about the Corporation, its products and its services, go to
www.inventronics.com. Disclaimer This news release may contain
forward looking information that represents the Corporation's
internal projections, expectations, estimates or beliefs
concerning, among other things, the terms of the BDC loan and the
use of proceeds of the BDC loan. These statements relate to
future events or future performance. All statements other
than the statements of historical fact may be forward-looking
statements. In some cases, forward-looking statements can be
identified by terminology such as "may", "will", "should",
"expects", "projects", "plans", "anticipates", and similar
expressions. The projections, estimates and beliefs contained
in such forward-looking statements are based on management's
assumptions relating to the ability and timing to complete and
execute all necessary documentation to proceed with the BDC loan,
and necessarily involve known and unknown risks and uncertainties,
including risks and assumptions relating to satisfying all of the
conditions of the BDC loan, the willingness of BDC to proceed with
the loan as committed and the willingness of members of management
to sign personal guarantees as contemplated, and other factors that
may cause results to differ materially from any projections or
results expressed or implied by such forward-looking
statements. Accordingly, readers are cautioned that events or
circumstances could cause results to differ materially from those
predicted. Except as otherwise required under applicable
securities laws, the Corporation does not undertake to update any
forward-looking information in this document whether as to new
information, future events or otherwise. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Inventronics Limited CONTACT: Dan Stearne, President and CEO
investor@inventronics.comW. Garth Wilson, CFO (204) 728-2001
investor@inventronics.com
Copyright
Grafico Azioni Inventronics (TSXV:IVX)
Storico
Da Set 2024 a Ott 2024
Grafico Azioni Inventronics (TSXV:IVX)
Storico
Da Ott 2023 a Ott 2024