GBO Inc. obtains new financing

STE-MARIE DE BEAUCE, QC, April 6 /CNW Telbec/ - (Note: All amounts are in Canadian dollars.) GBO Inc. ("GBO" or the "Company") (TSXV: GBO), manufacturer of "Bonneville" windows and doors, announces that it has closed a credit facility in the amount of $3,500,000 with Brome Financial Corporation, a private, independent, asset-based financing company located in Montreal that offers an entire range of working capital solutions. This facility will replace the temporary operating line of credit extended by Dennis Wood Holdings Inc., a company controlled by Mr. Dennis Wood, a director and insider of the Company.

"This agreement is another step towards the betterment of the Company's financial performance. With this new financing, the Company is confident it will have the financial resources required to maintain its abilities to invest in projects and to improve its working capital" stated Christopher Wood, Chairman and Chief Executive Officer of GBO.

Profile

Founded in 1946, GBO Inc. is an important Canadian window and door manufacturer. The Company designs, develops, manufactures, markets and distributes a selection of mid-range and high-end energy-efficient wood window arrangements, doors and accessories, sold primarily under the "Bonneville" and "Polar" brands. Recently, GBO launched a line of innovative fenestration products resistant to hurricanes and other impacts. The Company sells its windows and doors to the home improvement and construction markets mainly in Quebec, Ontario, the Maritimes and the Eastern and Southern eastern United States. GBO mainly serves independent building material distributors, distributors specializing in windows, doors and millwork, certain retailers, as well as construction and renovation contractors.

The statements set forth in this press release that describe GBO's objectives, projections, estimates, expectations or forecasts may constitute forward looking statements within the meaning of securities legislation. GBO would like to point out that, by their very nature, forward-looking statements involve a number of risks and uncertainties such that actual results or the measures it adopts could therefore differ materially from those indicated or underlying these forward-looking statements, or could have an impact on the degree of realization of a particular projection. There can be no assurance as to the materialization of the results, performance or achievements as expressed or implied by the forward-looking statements. Unless required to do so pursuant to applicable securities legislation, GBO's management assumes no obligation as to the updating or revision of the forward-looking statements as a result of new information, future events or other changes.

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. This press release contains forward-looking statements based on the Company's the current outlook regarding the future. Such information involves a number of risks, uncertainties and assumptions. Actual results and events could differ materially from those indicated or underlying the forward-looking statements.

SOURCE GBO INC.

For further information:

Source :       GBO Inc.
Contact :


Christopher M. Wood, Chairman of the Board and Chief Executive Officer
(418) 387-7723

Organization Profile

GBO INC.

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