Business
Garneau Inc. announces credit facility extension and appointment of interim CFO
Garneau Inc. announces credit facility extension and appointment of interim CFO
About this update from Green Arrow Resources, Inc.
[{"type":"text","content":"\n\n\n\nNov. 13, 2009 (Canada NewsWire Group) -- NISKU, AB, Nov. 13 /CNW/ -- Garneau Inc. (\"Garneau\" or the \"Corporation\") announces today that Mr. Jim Schultz has been appointed interim Chief Financial Officer (CFO) of Garneau Inc. effective November 2, 2009. Jim has replaced Ms. Megan Picard, who, as previously announced has left Garneau Inc. to pursue a new career opportunity with Bayou Perma Pipe Canada Inc.Mr. Schultz, Special Assistant, CFO and previous Corporate Controller, is in his 22nd year with the Company. Mr. Schultz is a Certified General Accountant (CGA) and prior to joining Garneau Inc., had worked in senior financial positions in the private sector.Garneau's principal lender, HSBC Bank Canada Inc. (\"HSBC\"), has extended Garneau's credit facility in the amount of $2 million to the close of business on July 31, 2010.Garneau is currently focusing on their Oilfield Manufacturing Business.About Garneau Inc.------------------Garneau Inc. designs and fabricates oilfield equipment for both domesticand international markets. With over 30 years of operating experience, GarneauInc. has developed a significant level of expertise and is well known forinnovative technology. The Corporation's website can be accessed atwww.garneau-inc.com.Forward-Looking Information---------------------------Certain information in this press release contains forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as \"seek\", \"anticipate\", \"plan\", \"continue\", \"estimate\", \"expect\", \"may\", \"will\", \"project\", \"predict\", \"potential\", \"targeting\", \"intend\", \"could\", \"might\", \"should\", \"believe\", \"would\" and similar expressions. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Garneau's control, including: the impact of general economic conditions; industry conditions; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; fluctuations in commodity prices and foreign exchange and interest rates; stock market volatility and market valuations; ...