TORONTO, June 21 /CNW/ - EGI Financial Holdings Inc. (TSX: EFH) announced today that it has repaid its outstanding non-revolving term loan facility, which was scheduled to mature in October 2010. The repayment was made in accordance with the loan's terms, using EGI Financial's internal cash resources. Each of EGI Financial's regulated subsidiaries continues with capital in excess of regulatory requirements sufficient to pursue their current business plans.
About EGI Financial
Founded in 1997, EGI Financial operates in the property and casualty insurance industry in Canada and the United States, primarily focusing on non-standard automobile insurance and other niche and specialty general insurance products. EGI Financial's common shares are traded on the Toronto Stock Exchange under the symbol EFH.
This news release contains forward-looking information based on current expectations. This information includes, but is not limited to, statements about the operations, business, financial condition, priorities, targets, ongoing objectives, strategies and outlook of EGI Financial for 2010 and subsequent periods.
This information is based upon certain material factors or assumptions that were applied in drawing a conclusion or making a projection as reflected in the forward-looking information. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific. A variety of material factors, many of which are beyond EGI Financial's control, affect the operations, performance and results of EGI Financial and its business, and could cause actual results to differ materially from the expectations expressed in any of this forward-looking information.
EGI Financial does not undertake to update any forward-looking information, except as required by law. Additional information about the risks and uncertainties about EGI Financial's business is provided in its disclosure materials, including its annual information form, filed with the securities regulatory authorities in Canada, available at www.sedar.com.
SOURCE Echelon Financial Holdings Inc.
For further information: For further information: Douglas E. McIntyre, Chief Executive Officer, EGI Financial Holdings Inc., Telephone: 905-214-7880