MONTREAL, Oct. 7, 2015 /CNW Telbec/ - Supremex Inc. ("Supremex" or the "Company") (TSX: SXP), Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of packaging and specialty products, today announced it entered into a Five-Year Committed $50 million Senior Secured Revolving Facility Agreement with Bank of Montreal (the "Facility"). This Facility replaces Supremex' existing three-year $15 million facility and $25 million non-revolving term loan and expands its borrowing flexibility with slightly improved rates.
"Combined with existing cash balance and cash flow from operations, this Facility provides significant financial flexibility to execute our growth strategy. As we look to grow steadily in key geographical markets and expand our value-added offerings, we remain focused on maintaining our financial discipline, operational efficiency and optimize capital allocation to maximize shareholder returns," said Benoît Crowe, Vice-President, Finance of Supremex.
"Bank of Montreal is pleased to support Supremex and its continued growth across Canada and the US", added Richard Côté, head of the Bank's Corporate Finance Division in Quebec.
The Five-Year Senior Secured Revolving Facility has no scheduled principal repayments prior to maturity and the Facility contains customary representations, warranties and covenants.
Third Quarter Financial Results Release Date
Supremex expects to report its Third Quarter Financial Results before market open on Friday November 6, 2015.
Supremex Inc. is Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and growing provider of packaging and speciality products. Supremex is the only national envelope manufacturer in Canada, with facilities across seven (7) provinces and one facility in the United States and employs approximately 500 people. This national presence allows Supremex to manufacture and distribute products tailored to the specifications of national customers such as major corporations, national resellers, government entities, as well as paper merchants, statement processors and solutions providers.
Further information on Supremex can be found at www.sedar.com and on the Company's website at www.supremex.com.
SOURCE Supremex Inc.
For further information: Benoît Crowe, CPA, CA, Vice-President, Finance, (514) 595-0555