Business
Garneau Inc. announces request for payment by its principal lender
TSX - GAR NISKU, AB, AB, Feb. 11 /CNW/ - Garneau Inc. ("Garneau") announces that its principal le...
About this update from Green Arrow Resources, Inc.
[{"type":"text","content":"\n\n\n\nTSX - GAR\n\n\nNISKU, AB, AB, Feb. 11 /CNW/ - Garneau Inc. ("Garneau") announces that\nits principal lender, HSBC Bank Canada Inc. ("HSBC"), has made a request for\nre-payment by the close of business on March 12, 2009 of approximately $12\nmillion under Garneau's credit facility.\n\n\nThe Garneau Board of Directors is conducting a strategic review of\nGarneau's alternatives in the face of HSBC's request and will issue further\nannouncements regarding the status of its affairs with HSBC and its\nstakeholders in due course.\n\n\nAbout Garneau Inc.\n------------------\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\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 volatility and market valuations; volatility in m...