Seprotech Announces Revised Terms of Loan Facility
25 Agosto 2011 - 12:49PM
PR Newswire (Canada)
OTTAWA, Aug. 25, 2011 /CNW/ -- OTTAWA, Aug. 25, 2011 /CNW/ -
Seprotech Systems Incorporated (TSX-V: SET; "Seprotech" or the
"Company") advises that it has reached agreement with its principal
lender to convert its revolving term loan facility in the amount of
$615,806 to a term loan repayable in monthly instalments over 5
years. The term loan is secured by a general security agreement
over all the assets of the Company. In addition, the lender has
agreed to waive compliance with loan covenants until February 29,
2012. These changes will assist the Company in completing its
restructuring activities and restoring its balance sheet. Seprotech
is a provider of pre-engineered water and wastewater treatment
plants to the land development sector, the resource sector and
military market place, including CrystalBlue™ membrane-based water
recycling systems and the ROTORDISK® wastewater treatment systems.
About Seprotech: Seprotech is a provider of pre-engineered water
and wastewater treatment solutions to the municipal/land
development, resource sector and military market place, including
Reverse Osmosis water purification systems, ROTORDISK® biological
sewage treatment package plants and CrystalBlue™ membrane-based
water recycling systems. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. The TSX Venture Exchange
has neither approved nor disapproved of the information contained
herein. Some of the statements in this press release, including
those relating to the Company's strategies and other statements
that are predictive in nature, that depend upon or refer to future
events or conditions, or that include words such as "expects",
"anticipates", "intends", "plans", "believes", "estimates" or
similar expressions, are forward-looking statements within the
meaning of securities laws. Forward-looking statements include,
without limitation, the information concerning possible or assumed
future results of operations of the Company. These statements are
not historical facts but instead represent only the Company's
expectations, estimates and projections regarding future events.
The Company does not undertake any obligation to update or release
any revisions to these forward-looking statements to reflect events
or circumstances after the date of this presentation or to reflect
the occurrence of unanticipated events, except as required by law.
To view this news release in HTML formatting, please use the
following URL:
http://www.newswire.ca/en/releases/archive/August2011/25/c6277.html
p Mr. Ian W. Malone, CFObr/ Tel: (613) 523-1641br/ Fax: (613)
731-0851 /p
Copyright
Bluemetric Environmental, Inc. (TSXV:SET)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Bluemetric Environmental, Inc. (TSXV:SET)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024
Real-Time news about Bluemetric Environmental, Inc. (TSX Venture Exchange): 0 recent articles
Más de Seprotech Systems Incorporated Artículos de Noticias