- CriticalControl Pays Down $500,000 in Debt -
CALGARY, Nov. 21 /CNW/ - CriticalControl Solutions Corp., (TSX-V:CCZ)
today announced that the Corporation repaid a portion of its debenture with
Wellington Financial in the amount of $500,000.
"We continue to reduce our debt and improve our balance sheet through
strong operating cash flow," said Alykhan Mamdani, President and CEO of
CriticalControl. "Management anticipates replacing the remainder of our debt
with a more conventional, lower cost, debt facility."
Following this repayment, CriticalControl's debt obligation is now
$2.75 million due January 3, 2008.
We seek safe harbour.
CriticalControl is a technology company that builds, implements and
manages critical business process solutions. Our proprietary products are data
management tools to operate the critical business operations of our government
and energy sector clients. In addition to our proprietary products, we
implement large scale document and records management solutions using our
strong domain expertise and in depth knowledge of our customer base. Where
critical processes require unconditional continuity, our clients look to us to
manage and perform certain operational functions on a short term or long term,
outsourced basis. For more information please visit www.criticalcontrol.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Alykhan Mamdani, President & CEO, Tel (403)
705-7500; or David Feick, The Equicom Group, Tel (403) 538-4787, Fax (403)