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.
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 |