The Company will be holding a special meeting of shareholders on June 25, 2013 to seek shareholder approval for the Arrangement. Further information is available in the Company's Information Circular dated May 28, 2013 which is being mailed to shareholders and will be available on SEDAR (www.sedar.com). The Arrangement is expected to close on July 1, 2013.
The Company announces that it has entered into a loan agreement with Sylogist, to receive up to $600,000 to fund general working capital requirements until closing of the Arrangement. The principal amount of the loan will be due on July 1, 2013 and will bear interest at the rate of 5% per annum. In connection with this loan, the Company has executed a general security agreement granting to Sylogist security over all the assets of the Company.
About Epic Data
Epic Data International Inc. has produced manufacturing execution and warehouse management solutions for 40 years. Epic Data solutions synchronize supply chain and production activities to achieve real-time visibility of manufacturing metrics that reduces cycle times and costs, optimizes production planning and control, and boosts quality and efficiency. The solutions are easily implemented either by module or as a completely integrated solution suite across the global enterprise. Customers include Lockheed Martin, Bell Helicopter, Komatsu, Hawker Beechcraft, Bombardier Learjet, CAE Inc., Kingfisher (B&Q) plc, Joy Mining Machinery, Cobham Defence Communications Ltd., GE Aircraft Engine, Contour Premium Aircraft Seating, McBride plc, Phoenix Contact, Rolls-Royce and Volvo.
More information about Epic Data is available at www.epicdata.com.
Caution Regarding Forward-looking Statements
In this document and in other documents filed with Canadian regulatory authorities or in other communications, the Company may from time to time make written or oral forward-looking statements within the meaning of applicable securities legislation, including statements regarding the Company's business plans and financial objectives, including the closing of the Arrangement and the date of the meeting of shareholders of the Company. These statements typically use words such as prospects, believe, estimate, forecast, project, expect, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the forecasts, projections and other forward-looking statements will not be achieved or will prove inaccurate. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. The Company cautions readers against placing undue reliance on forward-looking statements when making decisions, as the actual results could differ considerably from the opinions, plans, objectives, expectations, forecasts, estimates and intentions expressed in such forward-looking statements due to various material factors. Among other things, these factors include fiscal and economic policies, changes in interest and foreign exchange rates, and general economic conditions, legislative and regulatory developments, competition, access to capital, and the Company's ability to satisfy the closing conditions in the Arrangement Agreement. The Company further cautions that the foregoing list of factors is not exhaustive. For more information on the risks, uncertainties and assumptions that would cause the Company's actual results to differ from current expectations, please also refer to the Company's public filings available at www.sedar.com. The Company does not undertake to update any forward-looking statements, whether oral or written, made by itself or on its behalf, except to the extent required by securities regulations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Epic Data International Inc.
President & CEO
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