00:06:09 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Opsens Inc
Symbol OPS
Shares Issued 89,968,817
Close 2019-02-26 C$ 0.81
Market Cap C$ 72,874,742
Recent Sedar Documents

Opsens enters $8-million credit agreement

2019-02-27 16:05 ET - News Release

Mr. Louis Laflamme reports

OPSENS ANNOUNCES CREDIT AGREEMENT WITH CIBC INNOVATION BANKING

Opsens Inc. has entered into an $8-million credit agreement with CIBC Innovation Banking.

"The agreement offered carries excellent conditions. We are proud of the confidence shown by the CIBC, a high-profile Canadian institution. They have facilitated a very advantageous funding to support our strategic plan and growth for the foreseeable future," indicated Louis Laflamme, president and chief executive officer. "The agreement will give Opsens the flexibility to progress in its strategy to create value for shareholders, as we intensify our presence on the American market."

The agreement comprises a $7-million term loan, set to mature in 60 months and a $1-million revolving operating credit margin, set to mature in one year and that may be renewed on an annual basis. The agreement bears at usual Canadian bank loan rates.

The proceeds of the agreement will support growth, innovation and provide working capital.

"We are pleased to support Opsens's continued efforts to grow and deliver state-of-the-art products to diagnose and treat patients with coronary heart blockages," said Eric Laflamme, managing director of the Quebec region at CIBC.

About Opsens Inc.

Opsens focuses mainly on the measure of FFR and dPR in interventional cardiology. Opsens offers an advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fibre optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access. It is approved for sale in the United States, European Union, Japan and Canada.

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