Mr. Travis Jones reports
CRS ELECTRONICS CLOSES FINANCING: UPDATED
CRS Electronics Inc. has signed a loan agreement whereby the lender agrees to make credit facilities of an operating loan of up to $1-million and an uncommitted facility an additional $500,000 to the company. CRS Electronics has partnered with Optimize Capital Markets, a corporate finance firm which specializes in securing capital for leading growth enterprises.
"Historically, CRS Electronics has been misaligned in the capital markets. We finally have the right financial partner in Optimize Capital Markets as they truly understand the needs of a rapidly growing, innovative, high-tech company. Basil Mummery, senior financial analyst, has been a terrific partner. My team and I are looking forward to a long and mutually beneficial partnership," said Travis Jones.
The loan has been used to repay the existing line of credit with the bank, with the remainder used for working capital purposes. The credit facilities bear interest at 15 per cent per year and are secured by general security agreements on company assets.
We seek Safe Harbor.
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