Lorex completes amendment to senior credit facility increasing the availability to U.S. $15 million

    




 TORONTO, Oct. 25 /CNW/ - LOREX Technology Inc. ("LOREX" or the  "Company") (NEX: LOX.H) is pleased to announce it has negotiated an  amendment to the Company's senior debt credit facility with PNC (the  "Facility"), increasing the availability from U.S. $10 million to $15  million effective immediately. 

 Chairman and CEO, Reuben Klein stated "we are pleased with PNC as our  lender and with how quickly we were able to close this amendment to  improve our credit facility. It is another indication of confidence in  our Company as we work to continue to grow and improve our financial  strength. This upgraded facility allows for required investments to  support the growth of our business and to capitalize on opportunities  that may presentthemselves in the future". 

 About LOREX Technology Inc.: LOREX Technology Inc. (`LOREX') (NEX:LOX.H) provides businesses and  consumers with leading edge video surveillance security solutions and  sells its products under the LOREX and Digimerge brands. The LOREX  brand, which caters to both small business and consumer markets, is  available in thousands of retail locations across North America. The  Digimerge division distributes its products through major distributors  in North America. Both brands concentrate on the sale of wired,  wireless and IP security surveillance equipment including cameras,  digital video recorders and all-in-one systems. 

 LOREX subsidiaries include; LOREX Canada Inc., LOREX Corporation and  Strategic Vista Corporation Limited, Hong Kong. 

 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 of accuracy of this release. 

 Cautionary Statement on Forward-Looking Information 

 This news release contains certain statements that may be deemed  "forward-looking statements". Forward-looking statements are statements  that are not historical facts and are generally, but not always,  identified by the words "expects", "plans", "anticipates", "believes",  "intends", "estimates", "projects", "potential" and similar  expressions, or that events or conditions "will", "would", "may",  "could" or "should" occur. Forward-looking statements in this press  release relate to the Company's continued growth and financial strength  and future investment opportunities. The forward-looking information  reflects predictions and possibilities and does not in any way reflect  a guarantee. Factors which could cause actual results to differ  materially from current projections include, among other things:  competitive conditions in which the Company participates; changes in  consumer spending; general economic conditions and normal business  uncertainty; customer preferences towards product offerings; the  occurrence of a pandemic or other catastrophic event which could create  shortages of labour, products or services required to operate the  business profitably; fluctuations in foreign currency exchange rates;  changes in the Company's relationships with its suppliers. The Company  cautions that this is not an exhaustive list of factors that may affect  the forward-looking information contained in this press release.  Potential investors and readers are urged to give careful consideration  to all of these factors in evaluating any forward-looking information  and are cautioned not to place undue reliance on such information. The  Company disclaims any obligation to update forward-looking information,  except as may be required by law. 

LOREX Technology Inc.


CONTACT:  Eric MillerChief Financial OfficerLOREX Technology Inc.Phone: [phone], extension [e-mail] 


    

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