ePals Announces Amendment to Revolving Credit Facility
2014年1月1日 - 1:07AM
Marketwired
ePals Announces Amendment to Revolving Credit Facility
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
WASHINGTON, DC--(Marketwired - Dec 31, 2013) - ePals Corporation
(TSX-VENTURE: SLN) ("ePals" or the "Company") announces that its
wholly-owned subsidiary ePals, Inc. (a Delaware corporation) has
amended the terms of its existing revolving promissory note (the
"Note") with ZG Ventures, LLC ("ZG") and an affiliate of
ZG. Under the prior terms of the Note, ePals, Inc. was
entitled to borrow up to a maximum of US$3,000,000 and payment of
all outstanding principal and interest was due December 31,
2013. The Note has been amended to extend the repayment date
to June 30, 2014 and to reduce the amount that may be borrowed and
outstanding from time to time to a maximum of
US$1,500,000. All other terms of the Note remain unchanged
including that interest accrues on any unpaid balance at a rate of
one percent (1.00%) per annum.
The amendment to the loan described above is not subject to the
valuation requirement of Multilateral Instrument 61-101
Protection of Minority Shareholders in Special
Transactions ("MI 61-101") and is exempt from the minority
shareholder approval requirements of MI 61-101 by virtue of the
exemption contained in Section 5.7(1)(f) of MI 61-101.
About ePals Corporation
ePals Corporation (TSX-VENTURE: SLN) is an education media
company and a leading Global Learning Network. Focused on the K-12
market, ePals offers school administrators, teachers, students and
parents worldwide trusted content, interactive learning
experiences, and a collaborative learning community. ePals'
award-winning products include: popular children's educational
publishing brands from toddlers to teens, including Cricket® and
Cobblestone®; the ePals Global Community®; and In2Books®, a common
core eMentoring program that builds reading, writing and critical
thinking skills. ePals also offers SchoolMail365 and has recently
launched ToolsforSchool.com, a teaching resource marketplace
connecting educators to original, classroom-tested content. Also
new is a full service content-licensing, clearance and production
service for education publishers. ePals serves approximately 1
million classrooms and reaches millions of teachers, students and
parents in approximately 190 countries and territories. Product
websites include: www.ePals.com; www.Cricketmag.com;
www.In2Books.com; and www.ToolsforSchool.com. Corporate
information is available at www.corp.ePals.com.
Neither the 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.
Forward Looking Statements
This press release contains statements that may constitute
"forward-looking statements" within the meaning of applicable
Canadian securities legislation. Readers are cautioned not to
place undue reliance on such forward-looking
statements. Forward-looking statements are based on current
expectations, estimates and assumptions that involve a number of
risks, which could cause actual results to vary and in some
instances to differ materially from those anticipated by the
Company and described in the forward-looking statements contained
in this press release. No assurance can be given that any of
the events anticipated by the forward-looking statements will
transpire or occur or, if any of them do so, what benefits the
Company will derive therefrom. The forward-looking statements
contained in this news release are made as at the date of this news
release and the Company does not undertake any obligation to update
publicly or to revise any of the forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT: Aric Holsinger Chief
Financial Officer ePals Corporation Phone: (703) 885-3400
aholsinger@corp.epals.com Cory Pala Investor Relations E.vestor
Phone: (416) 657-2400 cpala@corp.epals.com
Epals Corporation (TSXV:SLN)
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Epals Corporation (TSXV:SLN)
過去 株価チャート
から 6 2023 まで 6 2024