LONGUEUIL, QC, Dec. 18, 2015 /CNW Telbec/ - Mediagrif Interactive Technologies Inc. ("Mediagrif" or the "Corporation") (TSX: MDF), a Canadian leader in information technology, today announced it has renewed and amended the credit agreement governing its senior secured revolving credit facility. With the renewal, the facility's term has been extended to December 18, 2020. The amended credit agreement provides for a maximum borrowing capacity of $80 million, which shall be used for general corporate purposes including acquisitions. The agreement also provides for an accordion feature to increase the maximum borrowing capacity by $40 million, subject to meeting certain criteria and obtaining additional commitments from lenders.
The facility has no scheduled principal repayments prior to maturity and contains usual representations, warranties and covenants.
The lender group is comprised of National Bank of Canada as Lead Arranger, Sole Bookrunner and Administrative Agent, The Bank of Nova Scotia and Caisse centrale Desjardins.
ABOUT MEDIAGRIF INTERACTIVE TECHNOLOGIES INC.
Mediagrif Interactive Technologies Inc. (TSX: MDF) is a Canadian leader in information technology, owner of several recognized web and mobile platforms including Jobboom, LesPAC, Réseau Contact, MERX, InterTrade, Carrus and BidNet. Mediagrif's e-commerce solutions are used by millions of consumers and businesses in North America and around the world. The Corporation has offices in Canada, the United States and China. For more information, please visit us at www.mediagrif.com or call 1 877 677-9088.
This press release contains certain forward-looking statements with respect to the Corporation. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those expected by these forward-looking statements. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect us. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. Unless otherwise indicated, all amounts are in Canadian dollars.
SOURCE Mediagrif Interactive Technologies Inc.
For further information: Mediagrif InteractiveTechnologies Inc.: Claude Roy, President and Chief Executive Officer, Tel.: 450 449-0102 ext. 2004, Toll Free: 1 877 677-9088 ext. 2004, Email: firstname.lastname@example.org; Paul Bourque, Chief Financial Officer, Tel.: 450 449-0102, ext: 2135, Toll Free: 1 877 677-9088 ext. 2135, Email: email@example.com