CALGARY, Alberta, May 31, 2024 (GLOBE NEWSWIRE) -- FLINT Corp. (“FLINT” or the “Company”) (TSX: FLNT) today announced that it has extended the maturity dates of (i) its Asset-Based Revolving Credit Facility with The Toronto-Dominion Bank that provides for maximum borrowings of up to $50 million to April 14, 2027 (previously April 14, 2025), (ii) its Term Loan Facility with Canso Investment Counsel Ltd., in its capacity as portfolio manager for and on behalf of certain accounts that it manages, that provides for maximum borrowings of up to $40.5 million to October 14, 2027 (previously October 14, 2025), and (iii) its 8% Senior Secured Debentures to October 14, 2027 (previously March 23, 2026).
“We value our relationship with TD Bank and Canso and appreciate the commitment they have shown by extending the maturity date of their respective loans. Their on-going support is pivotal as we continue to execute our organic growth strategy that targets both industrial end market and geographic diversification,” said Barry Card, Chief Executive Officer.
As at March 31, 2024, no amounts were drawn on the Asset-Based Revolving Credit Facility, $40.5 million was outstanding under the Term Loan Facility and $130.1 million of Senior Secured Debentures were outstanding.
Copies of the amending agreements for the Asset-Based Revolving Credit Facility, the Term Loan Facility, and the Senior Secured Debentures will be available shortly through SEDAR+ at www.sedarplus.ca.
About FLINT Corp.
With a legacy of excellence and experience stretching back more than 100 years, FLINT provides solutions for the Energy and Industrial markets including: Oil & Gas, (upstream, midstream and downstream), Petrochemical, Mining, Power, Agriculture, Forestry, Infrastructure and Water Treatment. With offices strategically located across Canada and a dedicated workforce, we provide maintenance, turnaround, construction, wear technology and environmental services that help our customers bring their resources to our world. For more information about FLINT, please visit www.flintcorp.com or contact:
| Barry Card Chief Executive Officer FLINT Corp. (587) 318-0997 investorrelations@flintcorp.com | Jennifer Stubbs Chief Financial Officer FLINT Corp. |
