- - RBC grants waiver from financial covenants until July 31, 2018 - -
TSXV: DUG │OTCQX: DSTFF
TORONTO, June 25, 2018 /CNW/ - Distinct Infrastructure Group Inc. (TSXV: DUG) ("DIG" or the "Company") today announced that it has received a waiver of compliance until July 31, 2018 pertaining to certain financial covenants contained in its Revolving Loan and Term Loan dated November 21, 2017.
"We are pleased to announce this waiver," said Joe Lanni, DIG's Co-CEO. "It illustrates the cooperative relationship we have with RBC as we work toward the common goal of growing shareholder value in DIG".
About Distinct Infrastructure Group:
Distinct Infrastructure Group Inc. (TSXV:DUG, OTCQX:DSTFF) is a turnkey solutions firm providing design, engineering, construction and maintenance services to telecommunication firms, utilities and government bodies. DIG's full service suite of offerings includes underground construction, aerial construction, inventory management, and technical services including fibre to the building and home. The Company's head offices are located in Toronto, Ontario, with additional offices in Edmonton, Alberta and Winnipeg, Manitoba.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Distinct is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Distinct cannot assure investors that actual results will be consistent with these forward-looking statements and Distinct assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.
SOURCE Distinct Infrastructure Group Inc.
For further information: William Nurnberger, Interim Chief Financial Officer, [email protected], 416.675.6485