United Protection Security Group Inc. - Financing Facility Increased to $7M USD
August 01 2012 - 6:00AM
PR Newswire (Canada)
EDMONTON, Aug. 1, 2012 /CNW/ - F.V.Ramsoondar, President and Chief
Executive Officer of United Protection Security Group Inc. (UPSG or
the Company), is pleased to announce that the Company has increased
its receivables financing agreement with its international lender
based in New York City. The limit has been increased from $4.5M USD
to $7M USD. The facility does not provide for any financial ratio
covenants, and is secured by a corporate guarantee and also a by
personal guarantee of the President and Chief Executive Officer of
the Company. The Company has also negotiated a reduction in the
annual borrowing interest rate by 1%. The increase in the facility
will allow to the Company to continue working towards its growth
objectives. Stock Awareness Activities To find out more about
United Protection Security Group Inc. , visit our website at
www.unitedprotection.com. To join the 'request for
information', go to the web page www.unitedprotection.com and click
the tab 'request information' and follow the prompts. Statements in
this press release other than purely historical information,
including statements relating to the Company's future plans and
objectives or expected results, are forward-looking statements.
Forward-looking statements are based on numerous assumptions and
are subject to all of the risks and uncertainties inherent in the
Company's business, including risks related to business development
and retention, and risks related to the current economic and credit
conditions. As a result, actual results may vary materially from
those described in the forward-looking statements. The TSX Venture
Exchange has neither approved nor disapproved the information
contained herein. United Protection Security Group Inc. CONTACT:
For additional investor and media relations inquiries contact:Fredy
Ramsoondar President, CEO and DirectorEmail:
fredy.ramsoondar@unitedprotection.comTel: 780-465-8101
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