Colabor Group Inc. Announces the Extension of Its Credit Facilities and Subordinated Debt
June 01 2020 - 6:30AM
Colabor Group Inc. (“Colabor”) (TSX: GCL) announces the extension
of the term of its credit facilities until October 13, 2021, the
authorized amount of which has been reduced to $90 million that are
not currently being used. In addition, the term of the FTQ
Solidarity Fund's subordinated debt will be extended until February
15, 2022.
"Postponing these deadlines will allow us to
focus our efforts on continuing to implement the strategic plan and
demonstrate its support by our main financial partners", said Louis
Frenette, President and Chief Executive Officer of Colabor.
Forward-Looking Statements This
news release contains certain statements that may be deemed to be
forward-looking statements reflecting the opinions or current
expectations of Colabor concerning its performance, business
operations and future events. Such statements are subject to risks,
uncertainties and assumptions and the analysis of the debt
structure and available alternatives, and risks mentioned in the
Corporation’s annual information form found under its profile on
SEDAR (www.sedar.com), such as the risk of dilution for existing
shareholders. As such, these statements are not guarantees of
future performance, and actual results, realities or events may
differ materially. Except as required by law, the Corporation
assumes no obligation to update these forward-looking statements in
the event that management’s beliefs, estimates or opinions or other
factors change.
About Colabor Colabor is a
distributor and wholesaler of food and related products serving the
hotel, restaurant and institutional markets or "HRI" in Quebec and
in the Atlantic provinces, as well as the retail market (grocery
stores and convenience stores). Within its two operating segments,
Colabor offers specialty food products such as fresh fish and
seafood, meat, as well as food and related products through its
Broadline activities.
Further information:
Colabor Group Inc.Pierre GagnéSenior Vice
President and Chief Financial Officer450-449-4911 ext. 1308
investors@colabor.com
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