TECSYS Concludes $10 Million Financing Agreement to Fund Growth
MONTREAL, QUEBEC -- (Marketwire) -- 11/01/12 -- TECSYS Inc.
(TSX:TCS), an industry-leading supply chain management software
company, announced today that it has completed a financing agreement
of up to $10 million with the National Bank of Canada to support the
The $10 million financing agreement includes:
-- A five-year $5.0 million term loan.
-- A $5.0 million operating line of credit.
"Over the last eighteen months we have experienced a significant
increase in demand for our software and services resulting in the
growth of our backlog, human resources and associated capital
infrastructure. We have also accelerated our investments in R&D. The
financing agreement we have just concluded will provide us with the
added liquidity necessary to take advantage of the current growth
opportunity," commented Peter Brereton President & CEO of TECSYS.
Innovation and Execution Propelling Growth at Montreal-Based TECSYS
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TECSYS is a leading supply chain management software provider that
delivers powerful enterprise distribution, warehouse and
transportation logistics software solutions. The company's customers
include over 600 mid-size and Fortune 1000 corporations in
healthcare, heavy equipment, third-party logistics, and general
wholesale high-volume distribution industries. TECSYS' shares are
listed on the Toronto Stock Exchange under the ticker symbol TCS.
The statements in this news release relating to matters that are not
historical fact are forward looking statements that are based on
management's beliefs and assumptions. Such statements are not
guarantees of future performance and are subject to a number of
uncertainties, including but not limited to future economic
conditions, the markets that TECSYS Inc. serves, the actions of
competitors, major new technological trends, and other factors beyond
the control of TECSYS Inc., which could cause actual results to
differ materially from such statements. More information about the
risks and uncertainties associated with TECSYS Inc.'s business can b
found in the MD&A section of the Company's annual report and annual
information form for the fiscal year ended April 30th, 2012. These
documents have been filed with the Canadian securities commissions
and are available on our website (www.tecsys.com) and on SEDAR
Copyright (C) TECSYS Inc. 2012. All names, trademarks, products, and
services mentioned are registered or unregistered trademarks of their
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Media relations: firstname.lastname@example.org
(514) 866-0001 or (800) 922-8649
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