OLATHE, Kan., May 4, 2015 /PRNewswire/ -- Butler National
Corporation (OTC Pink: BUKS), a leading manufacturer and provider
of support systems for commercial and military aircraft and a
recognized provider of management services in diverse business
groups including the gaming industry, announces that its
subsidiary, BHCMC, LLC, has completed a $5.5
Million debt refinancing transaction.
The Butler National subsidiary BHCMC, LLC manages the Boot Hill
Casino & Resort. Butler National shares ownership of
BHCMC with BHC Investment Company, LC, not related to Butler
National. BHC Investment provided BHCMC with debt
financing for the opening and the completion of the phase II
expansion of the Boot Hill Casino & Resort. The
refinancing paid off the BHC Investment debt, decreased the
effective interest rate approximately ten points for a term of five
years, paid refinancing expenses and provided additional working
capital.
Mr. Clark Stewart, President and
Chief Executive Officer of Butler National Corporation said, "We
are pleased to complete the refinancing transaction and appreciate
the cooperation of KS State Bank. This transaction should
positively contribute to the continuing efforts to make BHCMC more
efficient."
Our Business:
Butler National Corporation operates in
the Aerospace and Services business segments. The Aerospace
segment focuses on the manufacturing of support systems for
"Classic" commercial and military aircraft including the Butler
National TSD for the Boeing 737 and 747 Classic aircraft, switching
equipment for Boeing McDonnell Douglas Aircraft, weapon control
systems for Boeing Helicopter and performance enhancement
structural modifications for Learjet, Cessna, Dassault and
Beechcraft business aircraft. Services include temporary
employee services, gaming services and administrative management
services.
Forward-Looking Information:
Statements made in this
report, filed with the Securities and Exchange Commission,
communications to stockholders, press releases, and oral statements
made by representatives of the Company that are not historical in
nature, or that state the Company or management intentions, hopes,
beliefs, expectations or predictions of the future, may constitute
"forward-looking statements" within the meaning of Section 21E of
the Securities and Exchange Act of 1934, as amended (the "Exchange
Act"). Forward-looking statements can often be identified by the
use of forward-looking terminology, such as "could," "should,"
"will," "intended," "continue," "believe," "may," "expect," "hope,"
"anticipate," "goal," "forecast," "plan," "guidance" or "estimate"
or the negative of these words, variations thereof or similar
expressions. Forward-looking statements are not guarantees of
future performance or results. They involve risks, uncertainties,
and assumptions. It is important to note that any such performance
and actual results, financial condition or business, could differ
materially from those expressed in such forward-looking
statements. The forward looking statements in this report are
only predictions and actual events or results may differ
materially. These factors and risks include, but are not
limited to the Cautionary Statements and Risk Factors, filed as
Exhibit 99 and Section 1A to the Company's Annual Report on Form
10-K, incorporated herein by reference. Investors are
specifically referred to such Cautionary Statements and Risk
Factors for discussion of factors, which could affect the Company's
operations, and forward-looking statements contained herein.
FOR MORE INFORMATION, CONTACT:
David Drewitz, Public
Relations Ph
(972) 814-5723
david@creativeoptionscommunications.com
www.creativeoptionsmarketing.com
Butler National Corporation Investor
Relations Ph
(913) 780-9595
THE WORLDWIDE WEB:
Please review
www.butlernational.com for pictures of our products and
details about Butler National Corporation and its subsidiaries.
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SOURCE Butler National Corporation