Latest news with #financialflexibility
National Post
a day ago
- Business
- National Post
DATA Communications Management Corp. Announces Amended Senior Revolving Credit Facility
Article content BRAMPTON, Ontario — DATA Communications Management Corp. (TSX: DCM; OTCQX: DCMDF) ('DCM' or the 'Company'), a leading Canadian provider of print and digital solutions that help simplify complex marketing communications and workflow, announced today that it has entered into a fourth amended and restated credit agreement (the 'Bank Credit Facility') with a Canadian chartered bank (the 'Bank'), extending the maturity date of its senior secured revolving credit facility to May 31, 2028. The Bank Credit Facility also includes an expanded leasing facility to finance future equipment purchases (the 'Equipment Leasing Facility') along with a number of reporting enhancements. Article content Article content MANAGEMENT COMMENTARY Article content 'We are pleased to complete this transaction which provides us with increased flexibility to invest in the growth of the business and execute on our strategic priorities,' said Richard Kellam, President and CEO of DCM. 'We appreciate the continued support of our senior bank credit partner and confidence in our strategic direction.' Article content The maturity of the Bank Credit Facility has been extended by two years to May 31, 2028 (previously May 31, 2026). The maximum principal amount available under the Bank Credit Facility remains $90 million. The 'accordion' feature, which can provide up to an additional $20 million capacity under the revolving facility, also continues. The Bank Credit Facility is available to be drawn by way of either Prime Rate loans, Base Rate loans, Canadian Overnight Repo Rate Average (CORRA) loans, Secured Overnight Financing Rate (SOFR) loans, and/or Letters of Credit. Article content The Bank Credit Facility includes a treasury management facility of up to $5 million to manage foreign exchange and interest rate risk, and a corporate credit card facility to of up to $750,000 to fund business expenses and general corporate expenses. Under the terms of an expanded equipment leasing facility, DCM is able to fund up to $10 million of additional capital to finance the purchase price of capital equipment over the term of the Bank Credit Facility. Article content The Bank Credit Agreement features additional flexibility for the Company in its reporting to the Bank compared to its prior credit facility, including a basket for permitted acquisitions of up to $10 million, and permitted distributions including share buy-backs, dividends, and other distributions, subject to certain conditions. All other terms and conditions of the Bank Credit Facility remain materially unchanged. Article content The terms and conditions of the Bank Credit Facility are set out in the Fourth Amended and Restated Credit Agreement that will be filed on SEDAR+. Article content DCM is a leading Canadian tech-enabled provider of print and digital solutions that help simplify complex marketing communications and operations workflow. DCM serves over 2,500 clients including 70 of the 100 largest Canadian corporations and leading government agencies. Our core strength lies in delivering individualized services to our clients that simplify their communications, including customized printing, highly personalized marketing communications, campaign management, digital signage, and digital asset management. From omnichannel marketing campaigns to large-scale print and digital workflows, our goal is to make complex tasks surprisingly simple, allowing our clients to focus on what they do best. Article content Additional information relating to DATA Communications Management Corp. is available on and in the disclosure documents filed by DATA Communications Management Corp. on SEDAR+. Article content Certain statements in this press release constitute 'forward-looking' statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of DCM, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward-looking statements. When used in this press release, words such as 'may,' 'would,' 'could,' 'will,' 'expect,' 'anticipate,' 'estimate,' 'believe,' 'intend,' 'plan,' and other similar expressions are intended to identify forward-looking statements. These statements reflect DCM's current views regarding future events and operating performance, are based on information currently available to DCM, and speak only as of the date of this press release. Article content These forward-looking statements involve a number of risks, uncertainties, and assumptions. They should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Many factors could cause the actual results, performance, objectives or achievements of DCM to be materially different from any future results, performance, objectives or achievements that may be expressed or implied by such forward-looking statements. We caution readers of this press release not to place undue reliance on our forward-looking statements since a number of factors could cause actual future results, conditions, actions, or events to differ materially from the targets, expectations, estimates or intentions expressed in these forward-looking statements. Article content The principal factors, assumptions and risks that DCM made or took into account in the preparation of these forward-looking statements and which could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are described in further detail in our most recent annual and interim Management Discussion and Analysis filed on SEDAR+, and include but are not limited to the following: industry conditions are influenced by numerous factors over which the Company has no control, including: declines in print consumption; labour disruptions at suppliers and customers, including Canada Post; the impact of tariffs and responses thereto (including by governments, trade partners and customers), which may include, without limitation, retaliatory tariffs, export taxes, restrictions on exports to the U.S. or other measures, increases in the cost of our input costs, and the effect of governmental regulations and policies in general; our ability to achieve and meet our revenue, profitability, free cash flow and debt reduction targets for 2025 and in the future; while we have received consents from our lenders for the declaration and payment of the special dividend and regular recurring dividend, including the exclusion of the special dividend from our fixed charge coverage ratios, our financial leverage may increase, and there is no guarantee that we will pay such dividends in the future; and, our ability to comply with our financial and other covenants under our credit facilities, which may preclude us from paying future dividends if our outlook and future financial liquidity changes. Article content Additional factors are discussed elsewhere in this press release and under the headings 'Liquidity and capital resources' and 'Risks and Uncertainties' in DCM's Management Discussion and Analysis and in DCM's other publicly available disclosure documents, as filed by DCM on SEDAR+. Article content 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 in this press release as intended, planned, anticipated, believed, estimated, or expected. Unless required by applicable securities law, DCM does not intend and does not assume any obligation to update these forward-looking statements. Article content Article content Article content Contacts Article content For further information, contact Mr. Richard Kellam President and Chief Executive Officer DATA Communications Management Corp. Tel: (905) 791-3151 Article content Article content
Associated Press
2 days ago
- Business
- Associated Press
Alset AI to Amend Warrants and Launch Early Exercise Incentive Program to Accelerate Growth and Further Strengthen Capital Position
Program Expected to Enhance Financial Flexibility, Optimize Capital Structure, and Support Scaling of platform and Commercial Pipeline VANCOUVER, BC / ACCESS Newswire / June 2, 2025 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC:GPUSF)(FSE:1R60)(WKN:A3ESVQ) ('Alset AI' or the 'Company') an artificial intelligence ('AI') venture company advancing innovation through strategic investment and cloud computing solutions is pleased to announce that it intends to amend the exercise price of an aggregate of 19,999,993 outstanding common share purchase warrants currently expiring on March 15, 2027 and March 22, 2027 (the 'Warrants'). The Warrants were issued pursuant to a private placement that closed in two tranches on March 15, 2024 and March 22, 2024. 'This strategy provides us with an opportunity to further strengthen our balance sheet by unlocking growth capital from our existing capital structure,' said Adam Ingrao, CEO of Alset AI. 'As we scale Lyken's platform-as-a-service offering and pursue high-quality infrastructure opportunities, a stronger balance sheet positions us to move with speed and confidence. This is a shareholder-aligned way to capitalize on momentum in the AI infrastructure market while enhancing long-term value.' The Warrants have a current exercise price of $0.25 and the Company intends to amend the exercise price to $0.15. In connection with the re-pricing of the Warrants, the amended Warrants shall include an accelerated expiry provision (the 'Acceleration Provision'). Pursuant to the Acceleration Provision, if the closing price of the Company's shares is $0.1875 or higher for 10 consecutive trading days (the 'Premium Trading Days'), Warrantholders will have 30 calendar days before expiry to exercise their Warrants, commencing 7 calendar days after the last Premium Trading Day. Except for the amended exercise price and the Acceleration Provision, all other terms of the Warrants will remain the same. The proposed amendments to the Warrants are subject to acceptance by the TSXV and prior consent of the Warrantholders. In addition, the Company is pleased to announce that it intends to undertake an early exercise warrant incentive program (the 'Incentive Program') designed to encourage the exercise of the above noted outstanding Warrants. The Incentive Program shall be valid for a period of 45 days from the commencement date ('Incentive Program Expiry Date'). For each Warrant exercised on or prior to the Incentive Program Expiry Date by a Warrantholder, the Company shall issue to the Warrantholder one-half of one additional common share purchase warrant exercisable at a price of $0.25 for a period of 12 months from the date of issuance ('Incentive Warrants'). The Incentive Program and the re-pricing of the Warrants are conditional to the approval of the TSXV. Upon receipt of the approval, the Company shall send a notice to the Warrantholders outlining the details of the Incentive Program and the Incentive Program Expiry Date. This initiative reflects Alset AI's proactive approach to capital management, leveraging its existing capital structure to support strategic objectives. The warrant amendment and incentive program are designed to enhance long-term financial efficiency and flexibility, align with shareholder interests, and accelerate the Company's execution priorities, including the scaling of infrastructure platform and support execution across the Company's expanding commercial and strategic pipeline. About Alset AI Ventures Inc. Alset AI is a pioneering AI and cloud computing investment firm, committed to nurturing high- potential technology companies. Through a combination of capital, strategic advisory, and cloud computing alliances, Alset AI is shaping the future of artificial intelligence and building an AI-focused venture capital platform poised for substantial growth. For further information about Alset AI Ventures Inc., please contact: Investor Relations Adam Ingrao Chief Executive Officer T: 236.312.6744 E: [email protected] 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. Cautionary Note regarding Forward Looking Statements This press release may contain certain forward-looking statements and forward-looking information (collectively, 'forward-looking statements') related to the repricing of the Warrants, the commencement of the Incentive Program, and the TSXV's approval of the Warrant repricing the Incentive Program, the results of the Incentive Program, and the expected benefits to the Company from the Incentive Program. Forward-looking statements normally contain words like 'will', 'intend', 'anticipate', 'could', 'should', 'may', 'might', 'expect', 'estimate', 'forecast', 'plan', 'potential', 'project', 'assume', 'contemplate', 'believe', 'shall', 'scheduled', and similar terms. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward- looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Alset AI's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Alset AI. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Alset AI undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading 'Risks and Uncertainties' in its most recent Management's Discussion and Analysis and other disclosure documents available on SEDAR+ at SOURCE: Alset AI Ventures Inc. press release
Associated Press
2 days ago
- Business
- Associated Press
West Fraser Credit Facility and Term Loan Renewals Increase Liquidity
VANCOUVER, BC, June 2, 2025 /PRNewswire/ - Today, West Fraser Timber Co. Ltd. ('West Fraser' or the 'Company') (TSX and NYSE: WFG) announced it has entered into a syndicated credit agreement providing for the renewal of its $1 billion credit facility and extension of the facility's maturity from July 2028 to May 2030. The renewed credit facility is undrawn and is made available on substantially the same terms and conditions as the Company's existing credit facility. Additionally, the Company has increased and extended its existing $200 million term loan maturing July 2025. The new term loan is for $300 million and matures May 2028. 'We exited the first quarter of 2025 with more than $1.4 billion of available liquidity, and with this renewed credit facility and expanded term loan we have further strengthened West Fraser's near-term liquidity and financial flexibility,' said Sean McLaren, President and CEO, West Fraser. About West Fraser West Fraser is a diversified wood products company with more than 50 facilities in Canada, the United States, the United Kingdom, and Europe, which promotes sustainable forest practices in its operations. The Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, and other residuals. West Fraser's products are used in home construction, repair and remodelling, industrial applications, papers and tissue. For more information about West Fraser, visit For More Information Media Contact Joyce Wagenaar Director, Communications Tel. (604) 817-5539 [email protected] Investor Contact Robert B. Winslow, CFA Director, Investor Relations & Corporate Development Tel. (416) 777-4426 [email protected] View original content: SOURCE West Fraser Timber Co. Ltd.
Yahoo
2 days ago
- Business
- Yahoo
Flex LNG - Finalize $175 million lease financing for Flex Courageous
HAMILTON, Bermuda, June 2, 2025 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or the "Company") (NYSE: FLNG) (OSE: FLNG) is pleased to announce the signing and successful completion of the $175 million JOLCO lease financing for the vessel Flex Courageous. The refinancing generated net proceeds of approximately $42 million, extends debt maturity to 2035 and will significantly reduce the cost of debt by ~1.5% p.a. The refinancing of Flex Courageous follows the announcement of up to 10 years of additional backlog for the vessel. This JOLCO lease marks the first of three planned vessel refinancings under the Balance Sheet Optimization Program 3.0, introduced in the Q1-2025 presentation after securing up to 37 years of combined contract backlog across the three vessels. The Company remains on track to complete the refinancing of Flex Resolute and Flex Constellation in the second half of 2025. The combined refinancing efforts are expected to release $120 million in net proceeds, while also extending debt maturities and reducing the overall cost of debt. At the end of Q1-2025, Flex LNG held a cash balance of $410 million. The proceeds from this transaction further support the Company's strong liquidity position, financial flexibility at highly attractive terms and supported by the substantial charter backlog. Knut Traaholt, CFO of Flex LNG Management AS, commented: "We are pleased to have completed our first refinancing of 2025 at very attractive terms. We sincerely appreciate the continued trust and support from our banking partners and lease providers. With this transaction completed, we now turn our attention to the planned refinancings of Flex Resolute and Flex Constellation, continuing our efforts to further strengthen Flex LNG's financial platform." For further information, please contact: Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management AS Telephone: +47 23 11 40 00Email: ir@ About FLEX LNG Flex LNG is a shipping company focused on the growing market for Liquefied Natural Gas (LNG). Our fleet consists of thirteen LNG carriers on the water and all of our vessels are state-of-the-art ships with the latest generation two-stroke propulsion (MEGI and X-DF). These modern ships offer significant improvements in fuel efficiency and thus also carbon footprint compared to the older steam and four-stroke propelled ships. Flex LNG is listed on the New York Stock Exchange as well as Oslo Stock Exchange under the ticker FLNG. For more information, go to: This information was brought to you by Cision View original content: SOURCE Flex LNG
Associated Press
6 days ago
- Business
- Associated Press
Quiq Capital Announces New Credit Facility
NEW YORK, May 28, 2025 /PRNewswire/ -- Quiq Capital LLC ('Quiq') is pleased to announce the closing of the firm's inaugural revolving credit facility with Dime Community Bank. The facility provides the company with increased financial flexibility and liquidity to support business growth. 'We are extremely pleased to have entered into this new relationship with Dime and look forward to growing our platform with this venerable institution. This new revolving credit facility is a significant step forward in strengthening our financial position and providing us with greater flexibility to pursue our strategic goals,' said Ashish Parikh, Principal of Quiq Capital, LLC. 'The facility demonstrates strong confidence from the institutional community in our lending platform and provides us with the resources we need to capitalize on growth opportunities.' 'Supporting the achievement of Quiq's business strategy with a flexible capital solution is the partnership we strive for with our clients,' Said Thomas X. Geisel, Senior Executive Vice President, Commercial Lending at Dime Community Bank. ABOUT QUIQ CAPITAL LLC Quiq is a private credit lender that creates high value, risk-adjusted investments by empowering the growth of lower middle market businesses. Through private capital and structured lending, Quiq provides critical funding for the companies that keep the economy moving. Our tailored financing solutions fill the gap left by decades of bank consolidation and reduced lower middle market lending. ABOUT DIME COMMUNITY BANCSHARES, INC. Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island1. ¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets. View original content to download multimedia: SOURCE QUIQ CAPITAL
