SANDY, Utah, Jan. 8, 2014 /PRNewswire/ -- SecureAlert, Inc.
(SCRA: OTC-US), a global tracking and electronic monitoring
services company, announced today that it has entered into a
$25 million unsecured loan facility
agreement with Singapore-based
Tetra House Pte. Ltd.
"The new loan facility is an important milestone that
underscores the success of SecureAlert's comprehensive
restructuring efforts," said Director and Executive Committee
member David Boone. "Following
the award of a $70 million multi-year
contract with the Chilean Gendarmerie late last year, this new
financing agreement is another clear sign that we are well on our
way to full recovery. This new facility will ensure we can continue
to focus on delivering value-added services to our expanding
customer base in parallel with delivering superior shareholder
value."
The facility provides SecureAlert with working capital for
general corporate purposes as well as funding for future
acquisitions, both in the U.S. and internationally. Under the terms
of the agreement, SecureAlert will be able to borrow up to
$25 million until May 31, 2014 at an interest rate of eight percent
(8%) per annum. The company has already submitted a utilization
request for $10 million against the
loan facility and expects this initial draw to be funded within
days.
SecureAlert filed a Form 8-K disclosing the loan facility
agreement with Tetra House on January 7,
2014.
About SecureAlert
SecureAlert markets and deploys offender monitoring solutions
that combine tracking technologies with fulltime 24/7/365
monitoring and intervention capabilities. The company delivers
patented offender monitoring technology that effectively integrates
GPS, Radio Frequency (RF) and three-way interactive voice
communications in a single, globally-deployable solution with
features that are unique in the industry. SecureAlert empowers
professionals in law enforcement, corrections and rehabilitation
organizations with monitoring programs for juvenile and adult
defendants and offenders. These programs offer convicted offenders
and pre-trial defendants an accountable opportunity to be free from
incarceration while providing greater public safety at lower costs
than imprisonment or more labor-intensive supervision alternatives.
The company is based at 150 West Civic Center Drive, Suite 400,
Sandy, Utah 84070. To learn
more, please call (801) 451-6141, or send an email
to info@securealert.com. Visit SecureAlert online at
www.securealert.com.
About Tetra
House
Tetra House Pte. Ltd. is a private company incorporated under
the laws of the Republic of Singapore and is controlled by Mr.
Guy Dubois, a member of
SecureAlert's Board of Directors and who currently serves as its
Chairman of the Board.
MEDIA CONTACT
Steven Silvers
Mobile & Text: (303) 596-9960
stevensilvers@gbsm.com
SOURCE SecureAlert, Inc.