CFM Majestic Finalizes $235 Million Credit Facility With Banking Group Led By The Bank Of Montreal.Business Editors MISSISSAUGA, Ontario--(BUSINESS WIRE)--August 1, 2000 CFM Majestic Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CFM) announced today that it has completed arrangements with a banking syndicate led by the Bank of Montreal “BMO” redirects here. For the mathematics competition, see British Mathematical Olympiad. Bank of Montreal/Banque de Montréal (TSX: BMO, NYSE: BMO) is Canada's fourth largest bank[1], and is classified as a Domestic Chartered Bank (Schedule I). in respect of facilities with up to $235 million in available credit. The credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities will be used for working capital purposes, to re-finance existing term debt and include a facility to finance future acquisitions and/or re-purchases of common shares of CFM in connection with CFM's normal course issuer bid. In addition to the Bank of Montreal, the syndicate includes Bank One, the Bank of Nova Scotia Nova Scotia (nō`və skō`shə) [Lat.,=new Scotland], province (2001 pop. 908,007), 21,425 sq mi (55,491 sq km), E Canada. Geography , the Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. , the Toronto Dominion Bank and Bank of Tokyo - Mitsubishi (Canada). "The expansion of our credit facilities and banking syndicate is an important element in CFM's strategy to finance the growth of our business" said Colin Adamson, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CFM. We are quite pleased with the enthusiastic response to our market-leading position and growth prospects from our new banking syndicate members." CFM Majestic Inc. is a leading vertically integrated manufacturer of fireplaces, stoves and related products in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and the United Kingdom. The Company designs, manufactures and distributes a complete line of hearth products, including gas and wood-burning fireplaces, free-standing stoves, gas logs, hearth accessories, indoor and outdoor space heaters and a growing number of outdoor leisure products, and maintains an ongoing program of research and development aimed at continually improving the quality, design, features and efficiency of its products. This press release contains forward looking statements that involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include, without limitation, general economic conditions, consumer confidence and the level of housing starts, the Company's ability to develop new products, the seasonality of the demand for the Company's products, competition, and foreign currency fluctuations. These factors and other risks and uncertainties are discussed in the reports and disclosure documents filed by the Company with Canadian and U.S. securities regulatory authorities and commissions. |
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