CTXXF - CEMATRIX announces increase to its Credit Facility to $8 million | Benzinga
CALGARY, Alberta, June 27, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV:CVX) (OTCQB:CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products today announced that it has secured an increase to its credit facility with the Canadian Imperial Bank of Commerce ("CIBC") to support its ongoing growth and short-term annual working capital requirements during peak periods. The increased credit facility now has a maximum borrowing limit of $8 million, which represents a significant increase from the previous limit of $3 million. The other terms of the credit facility remain materially unchanged. The credit facility remains undrawn as of today's date.
"CEMATRIX is very pleased to announce this increase to our credit facility with CIBC. This additional access to credit helps to ensure we are ready to manage working capital requirements during peak periods," stated Ms. Marie-Josée Cantin, CFO of CEMATRIX. "This increase in our credit facility, coupled with our strong balance sheet, provides additional flexibility to support our growing business moving forward. We appreciate the continued support of CIBC," stated Mr. Jeff Kendrick, CEO of CEMATRIX.
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