ST. JOHN'S, June 14 /CNW/ - Today, Rutter Inc. (TSX: RUT) announced that the sale of its Brookfield Road office building has been completed.
Under the agreement as previously announced, the building was sold for $1,800,000. Net proceeds from the sale, after payment of the outstanding mortgage and fees, of $1,135,600 is not required for operations and will be used to reduce the Company's term loan debt. As part of the sale, Rutter entered into a seven year lease for the property.
About Rutter Inc. - Rutter is an enterprise focused on providing innovative technologies and engineering solutions. Rutter's global network supplies technologies to improve efficiency and safety in the marine, defense, transportation, oil and gas sectors from its headquarters in the Province of Newfoundland and Labrador. Multidisciplinary consulting engineering services including civil, structural, mechanical and electrical engineering as well as environmental and construction management services are provided to a diverse client base which includes all levels of government and the oil and gas and industrial sectors. For more information see www.rutter.ca
This press release may contain forward-looking statements that involve risks and uncertainties. These statements reflect current expectations and are subject to a number of risks and uncertainties including but not limited to, change in technology and general market conditions. Due to the many risks and uncertainties, Rutter Inc. cannot assure that forward-looking statements that may be contained in this press release will be realized.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Rutter Inc.
For further information: For further information: Karen Snook, Chief Financial Officer, Rutter Inc., +1 709 368 3174; Dan Herder, Corporate Secretary, Rutter Inc., +1 709 368 3174