OTTAWA, Oct. 22 /CNW Telbec/ - Tarquin Group Inc. (the "Company")
(TSX VENTURE: TQN) today announced that the Company's bank, the Royal Bank of
Canada, has informed the Company that it will be transferring responsibility
for the Company's credit facilities to its Special Loans and Advisory Group.
As previously disclosed, the Company has not been in compliance with certain
of the financial covenants associated with its Royal Bank of Canada line of
credit. To date the bank has provided formal and informal waivers of such
non-compliance. It is the Company's understanding that the transfer to the
Special Loans and Advisory Group does not immediately affect any waivers that
are currently in place.
About Tarquin Group
The goal of Tarquin Group Inc. (TSX VENTURE: TQN) is to become a
diversified industrial technology company providing solutions to the global
manufacturing market. Acting strategically in desirable niche markets
worldwide, it is expected that Tarquin's structure and processes will ensure
superior product solutions for customers while driving profitable growth for
all its stakeholders. Tarquin's target companies are niche market leaders in
the fields of laser applications and test, measure and control solutions for
manufacturing. For more information visit: www.tarquingroup.com.
The TSX-Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Investor relations: Jennifer North, CFO,
Tarquin Group Inc., (613) 240-4300