Zedcor Inc. Announces Expanded Banking Relationship with ATB Financial, New Credit Facility up to $30 Million and Grant of Restricted Share Units
Zedcor Inc. (TSXV: ZDC) has secured a new expanded credit facility of $30 million with ATB Financial, consisting of a $20 million term loan and a $10 million revolving loan facility. The three-year agreement features interest rates from Prime + 1.0% to Prime + 3.0% based on debt-to-EBITDA ratios. The term loan will refinance existing debt and fund 2025 capital purchases, while the revolving loan will support working capital and expansion plans.
The company announced key appointments, naming James Leganchuk as President Operations USA and Tony Ciarla as President Operations Canada. Additionally, Zedcor granted 250,000 Restricted Share Units to new employees and contractors, vesting over three years.
Zedcor Inc. (TSXV: ZDC) ha ottenuto una nuova linea di credito espansa di 30 milioni di dollari con ATB Financial, composta da un prestito a termine di 20 milioni di dollari e una linea di credito revolving di 10 milioni di dollari. Il contratto triennale prevede tassi di interesse che variano da Prime + 1,0% a Prime + 3,0% in base ai rapporti debito-EBITDA. Il prestito a termine rifinanzierà il debito esistente e finanzierà gli acquisti di capitale per il 2025, mentre la linea di credito revolving supporterà il capitale circolante e i piani di espansione.
L'azienda ha annunciato nomine chiave, designando James Leganchuk come Presidente delle Operazioni USA e Tony Ciarla come Presidente delle Operazioni Canada. Inoltre, Zedcor ha concesso 250.000 Unità di Azioni Riservate a nuovi dipendenti e appaltatori, che matureranno nell'arco di tre anni.
Zedcor Inc. (TSXV: ZDC) ha obtenido una nueva línea de crédito ampliada de 30 millones de dólares con ATB Financial, que consiste en un préstamo a término de 20 millones de dólares y una línea de crédito revolvente de 10 millones de dólares. El acuerdo de tres años presenta tasas de interés que van desde Prime + 1.0% hasta Prime + 3.0% según las proporciones de deuda-EBITDA. El préstamo a término refinanciará la deuda existente y financiará las compras de capital para 2025, mientras que la línea de crédito revolvente apoyará el capital de trabajo y los planes de expansión.
La empresa anunció nombramientos clave, designando a James Leganchuk como Presidente de Operaciones en EE. UU. y a Tony Ciarla como Presidente de Operaciones en Canadá. Además, Zedcor otorgó 250.000 Unidades de Acciones Restringidas a nuevos empleados y contratistas, que se consolidarán durante tres años.
제드코르 주식회사 (TSXV: ZDC)는 ATB 금융과 함께 3천만 달러의 새로운 확장된 신용 한도를 확보했습니다. 이 신용 한도는 2천만 달러의 기간 대출과 1천만 달러의 회전 신용 시설로 구성되어 있습니다. 3년 계약은 부채 대비 EBITDA 비율에 따라 이자율이 프라임 + 1.0%에서 프라임 + 3.0%까지 다양합니다. 기간 대출은 기존 부채를 재융자하고 2025년 자본 구매를 지원하며, 회전 대출은 운영 자본 및 확장 계획을 지원합니다.
회사는 주요 임명 소식을 발표하며 제임스 레간축을 미국 운영 사장으로, 토니 시아를 캐나다 운영 사장으로 임명했습니다. 또한, 제드코르는 신규 직원 및 계약자에게 250,000개의 제한 주식 단위를 부여하며, 이는 3년 동안 분할 지급될 것입니다.
Zedcor Inc. (TSXV: ZDC) a obtenu une nouvelle facilité de crédit élargie de 30 millions de dollars avec ATB Financial, composée d'un prêt à terme de 20 millions de dollars et d'une facilité de prêt revolving de 10 millions de dollars. L'accord triennal comprend des taux d'intérêt allant de Prime + 1,0 % à Prime + 3,0 % en fonction des ratios de dette par rapport à l'EBITDA. Le prêt à terme refinancera la dette existante et financera les achats de capital de 2025, tandis que la facilité de prêt revolving soutiendra le fonds de roulement et les plans d'expansion.
L'entreprise a annoncé des nominations clés, désignant James Leganchuk comme président des opérations aux États-Unis et Tony Ciarla comme président des opérations au Canada. De plus, Zedcor a accordé 250 000 unités d'actions restreintes à de nouveaux employés et contractuels, qui se débloqueront sur une période de trois ans.
Zedcor Inc. (TSXV: ZDC) hat eine neue erweiterte Kreditfazilität in Höhe von 30 Millionen Dollar bei ATB Financial gesichert, bestehend aus einem 20-Millionen-Dollar-Darlehen und einer 10-Millionen-Dollar- revolvierenden Kreditfazilität. Der Dreijahresvertrag sieht Zinssätze von Prime + 1,0% bis Prime + 3,0% vor, basierend auf den Verschuldungs-EBITDA-Verhältnissen. Das Darlehen wird bestehende Schulden refinanzieren und Investitionen für 2025 finanzieren, während die revolvierende Kreditlinie das Betriebskapital und die Expansionspläne unterstützen wird.
Das Unternehmen gab wichtige Ernennungen bekannt und ernannte James Leganchuk zum Präsidenten der USA-Operationen und Tony Ciarla zum Präsidenten der Kanada-Operationen. Außerdem gewährte Zedcor 250.000 eingeschränkte Aktieneinheiten an neue Mitarbeiter und Auftragnehmer, die über drei Jahre hinweg gedeihen werden.
- Secured new $30 million credit facility, significantly expanding financial capacity
- Obtained favorable interest rates (Prime + 1.0% to 3.0%)
- Flexible debt-to-EBITDA covenant ratio of 3.50:1.00 until June 2025
- Reports nearly full utilization of MobilieyeZ security towers
- Robust demand in both US and Canadian markets
- Increased debt load with new $20 million term loan
- Stricter debt-to-EBITDA ratio requirement (3.00:1.00) after September 2025
Calgary, Alberta--(Newsfile Corp. - December 18, 2024) - Zedcor Inc. (TSXV: ZDC) (the "Company" or "Zedcor") is pleased to announce that, it has entered into an expanded credit facility (the "Credit Facility") with a new primary lender for
The agreement, which is fully committed for three years, consists of:
A
$20.0 million term loan (the "Term Loan") that is amortized over five years with monthly payments of principal and interest. The Term Loan can be drawn on two tranches: the first tranche of approximately$15.1 million will be used to repay the Company's outstanding equipment financing and term loan, and the remaining tranche of approximately$4.9 million will be used to fund capital asset purchases in 2025.A
$10.0 million revolving loan facility (the "Revolving Loan") which will be used to fund the Company's 2025 capital program, for general corporate purposes and for working capital. The Revolving Loan is not margined and Zedcor is able to draw on it at any time.
The Credit Facility bears interest at rates of Prime +
The agreement has the following quarterly financial covenant requirements:
- A fixed charge coverage ratio of 1.15 to 1.00.
- A net funded debt to EBITDA ratio of 3.50:1.00, as at the Closing Date or as at the end of any Fiscal Quarter thereafter up to and including June 30, 2025. For any fiscal quarter ending on or after September 30, 2025, the net funded debt to EBITDA ratio will be 3.00:1.00.
The expanded Credit Facility, as well as the increased net funded debt to EBITDA ratio flexibility until June 30, 2025 allows the Company to focus on expanding its geographical footprint in the US and to continue to expand its fleet of MobilieyeZTM in Canada. Todd Ziniuk, President and CEO of Zedcor, stated "This additional access to credit, along with internally generated cash flow, provides funding for our expansion plans in 2025, as we grow into new markets in the United States. We are seeing nearly full utilization for our MobilieyeZTM security towers and demand for our services continues to be robust in both the US and Canada. Our expansion strategy remains on track and we have ramped up our manufacturing and monitoring center operations in order to service the anticipated growth. We look forward to growing our partnership with ATB Financial to continue our mission to become North America's leading and most trusted security solutions provider."
Appointment of Presidents of Operations
Zedcor is also pleased to announce the appointment of James Leganchuk as President Operations USA and Tony Ciarla as President Operations Canada. Mr. Leganchuk has been with Zedcor since 2011, previously serving in various executive positions. Mr. Ciarla joined Zedcor in August 2022 and was previously Executive Vice President. Both Messrs. Leganchuk and Ciarla have extensive industry knowledge of operations and sales. Mr. Leganchuk will be based out of Houston, Texas and Mr. Ciarla will be based out of the Company's headquarters in Calgary, Alberta.
Issuance of Restricted Share Units
On December 18, 2024, 250,000 Restricted Share Units ("RSUs") were granted to newly hired employees and contractors of the Company pursuant to the Company's fixed
About Zedcor Inc.
Zedcor Inc. is disrupting the traditional physical security industry through its proprietary MobileyeZTM security towers by providing turnkey and customized mobile surveillance and live monitoring solutions to blue-chip customers across North America. The Company continues to expand its established platform of over 1,300 MobileyeZ™ towers in Canada and the United States, with emphasis on industry leading service levels, data-supported efficiency outcomes, and continued innovation. Zedcor services the Canadian market through equipment and service centers currently located in British Columbia, Alberta, Manitoba, and Ontario. The Company continues to advance its U.S. expansion which now has the capacity to service markets throughout the Midwest with operations throughout Texas, in Denver, Colorado, and Phoenix, Arizona.
Forward-Looking Statements and Information
Certain statements included in this press release constitute forward-looking statements or forward-looking information. Forward-looking statements or information can be identified by terminology such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "budget", "should", "project", or similar words suggesting future outcomes or expectations. In particular, forward-looking statements and information contained in this press release, include, but are not limited to, the use of proceeds of the Credit Facility, the expansion of Zedcor's Security and Surveillance business, fleet expansion, utilization rates for the Company's security towers and general demand for the Company's services, marketing of security services and expansion of Zedcor's service offering to other geographic regions. Although the Company believes that the expectations implied in such forward-looking statements or information are reasonable, undue reliance should not be placed on these forward-looking statements or information because the Company can give no assurance that such statements or information will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of assumptions about the future and uncertainties, including current forecasts and utilization. Although management of the Company believes these expectations and assumptions reflected in these forward-looking statements or information to be reasonable, there can be no assurance that any forward-looking statements or information will be proved to be correct, and actual results may differ materially from those anticipated in such statements or information. For this purpose, any statements or information contained herein that are not statements or information of historical fact may be deemed to be forward-looking statements or information and readers should not place undue reliance on such forward-looking statements or information. The forward-looking statements or information contained in this press release are made as of the date hereof and the Company assumes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new contrary information, future events or any other reason, unless the Company is required by any applicable securities laws. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.
For further information contact:
Todd Ziniuk
President & Chief Executive Officer
P: 403-930-5430
E: tziniuk@zedcor.ca
Amin Ladha
Chief Financial Officer
P: 403-930-5430
E: aladha@zedcor.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234286
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