Canyon renews credit facilities



    CALGARY, May 25 /CNW/ - Canyon Services Group Inc. ("Canyon") is pleased
to announce that is has completed its annual review process with HSBC Bank
Canada and has renewed its credit facilities agreement (the "Agreement"),
effective May 25, 2009. Pursuant to the Agreement, the available credit
facilities remain unchanged and include a $5.0 million operating facility
("Operating Facility"), a $20 million extendible facility ("Extendible
Facility") and an $11.4 million real estate term facility ("Term Facility").
Interest on all facilities is payable monthly at rates of prime plus 1.25% per
annum on the Operating and Extendible Facilities and prime plus 1.50% per
annum on the Term Facility. As at April 30, 2009, Canyon had nil drawn on the
Operating Facility, $6.5 million drawn on the Extendible Facility and $11.1
million owing on the Term Facility. Total net debt (long-term debt plus
working capital) as at April 30, 2009, was approximately $10.5 million.





For further information:

For further information: Brad Fedora, President and CFO, Canyon Services
Group Inc., Suite 1600, 510 - 5th Street S.W., Calgary, Alberta, T2P 3S2,
Phone: (403) 290-2491, Fax: (403) 355-2211; Or Barry O'Brien, Vice President,
Finance, Canyon Services Group Inc., Suite 1600, 510 - 5th Street S.W.,
Calgary, Alberta, T2P 3S2, Phone: (403) 290-2478, Fax: (403) 355-2211


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890