Inventronics Announces New Long-Term Loan

    




 CALGARY, April 26, 2012 /CNW/ - Inventronics Limited ("Inventronics" or  the "Corporation") , a designer and manufacturer of  custom enclosures for the telecommunications, electric transmission,  cable television and other industries in North America, is pleased to  announce that it has accepted a commitment from the Business  Development Bank of Canada (the "BDC") to provide a $2,400,000  long-term loan to the Company. 

 The loan will be used to fully repay and discharge the Corporation's  current term loan in the amount of $2,279,000 with BMO Bank of Montreal  which matured on March 31, 2012.  The BDC loan will have a term of 30  years and the interest rate will be fixed for five years at a rate of  7.1% at which time the interest rate will be subject to adjustment in  accordance with the loan documents. 

 The BDC loan will be secured by a mortgage on the Corporation's  production facility in Brandon, Manitoba and a security interest in all  of the Corporation's present and after acquired personal property. In  addition, each of Dan Stearne, Garth Wilson, Dan O'Greysik and Tracy  Dobson will provide personal guarantees of the Corporation's  obligations pursuant to the BDC Loan. Each of Messrs. Stearne, Wilson  and O'Greysik and Ms. Dobson are directors and members of management of  the Corporation. In addition, Messrs. Stearne, Wilson and O'Greysik and  Ms. Dobson collectively hold all of the issued and outstanding shares  of 1437891 Alberta Ltd., a corporation which presently holds 3,020,000  common shares of the Corporation representing approximately 69% of the  issued and outstanding shares of the Corporation. 

 About Inventronics 

 Inventronics Limited designs and manufactures custom enclosures and  other products for an array of customers in the telecommunications,  electric utility, cable television, electronics and computer services  industries in North America. The Corporation owns its ISO  9001-registered production facility in Brandon, Manitoba. 

 Shares of Inventronics trade on the TSX Venture Exchange under the  symbol "IVX." For more information about the Corporation, its products  and its services, go to www.inventronics.com. 

 Disclaimer 

 This news release may contain forward looking information that  represents the Corporation's internal projections, expectations,  estimates or beliefs concerning, among other things, the terms of the  BDC loan and the use of proceeds of the BDC loan.  These statements  relate to future events or future performance.  All statements other  than the statements of historical fact may be forward-looking  statements.  In some cases, forward-looking statements can be  identified by terminology such as "may", "will", "should", "expects",  "projects", "plans", "anticipates", and similar expressions.  The  projections, estimates and beliefs contained in such forward-looking  statements are based on management's assumptions relating to the  ability and timing to complete and execute all necessary documentation  to proceed with the BDC loan, and necessarily involve known and unknown  risks and uncertainties, including risks and assumptions relating to  satisfying all of the conditions of the BDC loan, the willingness of  BDC to proceed with the loan as committed and the willingness of  members of management to sign personal guarantees as contemplated, and  other factors that may cause results to differ materially from any  projections or results expressed or implied by such forward-looking  statements.  Accordingly, readers are cautioned that events or  circumstances could cause results to differ materially from those  predicted.  Except as otherwise required under applicable securities  laws, the Corporation does not undertake to update any forward-looking  information in this document whether as to new information, future  events or otherwise. 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in policies of the TSX Venture Exchange) accepts  responsibility for the adequacy or accuracy of this release. 



Inventronics Limited


CONTACT:  Dan Stearne, President and CEO     [e-mail]. Garth Wilson, CFO     [phone]         [e-mail] 


    

Copyright