Xplore increases its credit facility


    AUSTIN, TX, March 6 /CNW/ - Xplore Technologies Corp. (TSX: XPL)
("Xplore" or the "Company"), a rugged mobile computer provider, announced
today it has increased the amount available under its credit facility with its
senior lender by US$3 million. Pursuant to the amended credit agreement,
Xplore may borrow up to US$8 million based on levels of eligible accounts
receivable and inventory.
    "We are very pleased to announce our enhanced credit relationship with
Silicon Valley Bank," stated Michael J. Rapisand, Chief Financial Officer.
"We've had a valuable relationship with the bank for the past two years and
believe this increase in our borrowing capacity demonstrates their continued
commitment to Xplore. The revised terms of the facility will help support our
growth and the related working capital requirements," he added.
    The maturity date of the facility has been extended to March 31, 2008.
The amended credit agreement includes financial covenants that will require
Xplore to, among other things, have a minimum tangible net worth of at least
US$3,750,000 at all times and a minimum excess availability of US$750,000.

    The Toronto Stock Exchange has neither approved nor disapproved the
    information contained herein.

    Xplore Technologies is a registered trademark of Xplore Technologies
Corporation of America. iX104, iX104R, iX104T, Renegade, All Terrain,
iX104c(2) are trademarks of Xplore Technologies Corporation of America. All
other trade names marked or not, are the sole property of their respective

    This news release contains forward-looking statements that involve risks
    and uncertainties, which may cause actual results to differ materially
    from the statements made. Such forward-looking statements have been made
    pursuant to the safe harbor provisions of the U.S. Private Securities
    Litigation Reform Act of 1995. When used in this document, the words
    "may," "would," "could," "will," "intend," "plan," "anticipate,"
    "believe," "estimate," "expect," and similar expressions are intended to
    identify forward-looking statements. Such statements reflect Xplore's
    current views with respect to future events and are subject to such risks
    and uncertainties. Many factors could cause actual results to differ
    materially from the statements made including those factors detailed from
    time to time in filings made by Xplore with securities regulatory
    authorities. Should one or more of these risks or uncertainties
    materialize, or should assumptions underlying the forward-looking
    statements prove incorrect, actual results may vary materially from those
    described herein as intended, planned, anticipated or expected. Xplore
    does not intend and does not assume any obligation to update these
    forward-looking statements.

    %SEDAR: 00004707E

For further information:

For further information: Xplore: For Media or U.S. Investor Information
Contact: Martin Janis & Company, Inc., Beverly Jedynak, Tel: (312) 943-1100,
Email: b.jedynak-janispr@worldnet.att.net

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890