Trading Symbol: PIH
The credit facilities are summarized as follows: (i) a new facility from the Bank of Montreal (the "BMO Facility") with an aggregate borrowing base of
The BMO Facility, which will replace an existing facility the Company has in place with BMO, is comprised of a
The Roynat Facility is a revolving term loan and advances thereunder can be made until
The Facilities bear interest at favourable rates which are customary for facilities of this nature.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to the use of proceeds of the Facilities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" 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". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made at the date that such statements are made. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including a need to reallocate the use of proceeds of the Facilities due to changes in the Company's business needs. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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