Wellington Financial provides $7 million financing for MTI Global Inc.

    TORONTO, June 3 /CNW/ - Wellington Financial LP, a privately held
specialty finance firm, today announced a $7 million subordinated debt
financing for MTI Global Inc. (MTI:TSX)("MTI"), a leading designer, developer
and manufacturer of custom-engineered products using silicone and other
cellular materials. Wellington Financial's True Growth Capital(TM) will be
used for general working capital purposes.
    "MTI Global has built a roster of world class customers," said Mark
Usher, Partner at Wellington Financial LP. "The company is extremely well
positioned for further expansion in each of their business lines and we are
delighted to help finance that growth."
    "We are pleased to have Wellington Financial LP as our financial partner
as we enter into this very important and positive phase of our operational
turnaround," said William Neill, MTI's President and Chief Executive Officer.
"The financing will allow us to normalize our relationship with our bank and
most importantly, fund the corporate changes necessary to simplify MTI's
operations, drive plant efficiencies, and focus on profitable growth going
    MTI primarily designs and manufactures cushioning and insulation products
from plastic and silicone materials. Its patented foams, films and blankets
have applications in the aerospace, automotive, sporting goods, industrial,
medical, electronic and protective packaging markets. Aerospace customers
include Airbus, Boeing, Bombardier and Embraer. MTI's head office and Canadian
operations are located in Mississauga, Ontario.
    Aird and Berlis LLP and Wildeboer Dellelce LLP provided legal advice for
this transaction.
    Wellington Financial LP is currently managing a $400 million investment
program via Wellington Financial Fund III. Since Fund III began operation in
September 2006, Wellington Financial LP has led more than $155 million of
transactions, making it the most active fund of its kind in Canada.

    About Wellington Financial LP

    Wellington Financial LP is a privately held specialty finance firm
providing operating lines of credit, term, venture and amortizing loans up to
$40 million. Wellington Financial LP is currently deploying a $400 million
investment program via its third fund. Wellington Financial LP is managed by a
partnership controlled by fund management and Clairvest Group Inc. (CVG: TSX),
who jointly have contributed a large financial stake to Fund III. Limited
partners include several of Canada's largest institutional investors, crown
corporations, financial institutions and pension funds. Please visit the fund
website at www.wellingtonfund.com, or the Wellington Financial team blog at

    About MTI Global Inc.

    MTI Global Inc. (MTI:TSX) designs, develops and manufactures
custom-engineered products using silicone and other cellular materials. The
Company serves a variety of specialty markets focused on three main product
categories: Silicone, Aerospace and Fabricated Products. MTI's manufacturing
divisions develop and produce silicone foam using patented technology. The
Company designs and fabricates energy management systems from a variety of
flexible, cellular materials. MTI also produces and distributes specialty
silicone elastomer products. MTI's primary markets are aerospace and mass
transit. Secondary markets include sporting goods, automotive, industrial,
institutional, electronics, and the medical market through a 51% interest in
MTI Sterne SARL of Cavaillon, France. MTI's head office and Canadian
manufacturing operations are located in Mississauga, Ontario, with
international manufacturing operations located in Richmond, Virginia; Milton,
Florida; Bremen, Germany; and a contract manufacturer venture in Ensenada,
Mexico. The Company also has sales operations in England and Sweden, and an
engineering support centre in Brazil. The Company's website is

For further information:

For further information: Amy Olah, Marketing Manager, Wellington
Financial LP, Tel: (416) 682-6002, aolah@wellingtonfund.com; Bill Neill,
President and Chief Executive Officer, MTI Global Inc., Tel: (905) 564-9700

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