Business
Garneau Inc. Announces 90 Day Repayment Extension Granted by its Principal Lender
TSX - GAR NISKU, AB, June 1 /CNW/ - Garneau Inc. (GAR:TSX) announces that, further to its press r...
About this update from Green Arrow Resources, Inc.
[{"type":"text","content":"\n\n\n\nTSX - GAR\n\n\nNISKU, AB, June 1 /CNW/ - Garneau Inc. (GAR:TSX) announces that, further\nto its press release of April, 22nd, 2009, Garneau's principal lender, HSBC\nBank Canada Inc. ("HSBC"), has extended the request for repayment of\napproximately $12 million under Garneau's credit facility to the close of\nbusiness on August 31st, 2009.\n\n\nGarneau's financial advisor, Peters & Co. Limited, continues to work with\nthe Special Committee of Garneau's Board of Directors in its review of\nstrategic alternatives for Garneau.\n\n\nGarneau will issue further announcements regarding the foregoing matters\nin due course.\n\n\nAbout Garneau Inc.\n\n\nGarneau Inc's primary business is the application of high performance\nprotective coating and linings for oil and gas pipeline protection.\nAdditionally, the Corporation designs and fabricates oilfield equipment for\nboth domestic and international markets. With over 30 years of operating\nexperience, Garneau Inc. has developed a significant level of expertise and is\nwell know for innovative technology. The Corporation's website can be accessed\nat www.garneau-inc.com.\n\n\nForward-Looking Information\n\n\nCertain information in this press release contains forward-looking\nstatements. These statements relate to future events or our future\nperformance. All statements other than statements of historical fact may be\nforward-looking statements. Forward-looking statements are often, but not\nalways, identified by the use of words such as "seek", "anticipate", "plan",\n"continue", "estimate", "expect", "may", "will", "project", "predict",\n"potential", "targeting", "intend", "could", "might", "should", "believe",\n"would" and similar expressions. These statements involve substantial known\nand unknown risks and uncertainties, certain of which are beyond Garneau's\ncontrol, including: the impact of general economic conditions; industry\nconditions; changes in laws and regulations including the adoption of new\nenvironmental laws and regulations and changes in how they are interpreted and\nenforced; fluctuations in commodity prices and foreign exchange and interest\nrates; stock market volatilit...