D.G. Jewellery of Canada Ltd. Extends Credit Facility With Bank of Nova Scotia.TORONTO, CANADA--(BUSINESS WIRE)--June 17, 1999-- D.G. Jewellery of Canada Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: DGJL), which designs, manufactures, merchandises and distributes stone-set jewelry, announced today that its commercial bank, 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 , has agreed to extend and increase the company's credit line to $21,600,000 from $21,300,000. Jack Berkovits, 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 D.G. Jewellery, said, "With the renewed credit line and the $4,000,000 in gross proceeds from the private placement of our common shares earlier this month, we are in a strong financial position to fund our ambitious expansion program. We expect to continue to diversify our customer base and strengthen our non-traditional distribution channels such as television shopping networks and internet auction sites." D.G. Jewellery of Canada Ltd. is primarily engaged in the design, merchandising and distribution of stone-set jewelry for department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , mass merchants, catalog showrooms, television shopping networks and other high-volume retailers and other major discounters. The company maintains a broad base of customers concentrated in five major jewelry segments: Internet retailers, auctioneers and other web merchants; Department stores such as J.C. Penney and Saks Fifth Avenue Saks Fifth Avenue is a chain of upscale American department stores that is owned and operated by Saks Fifth Avenue Enterprises (SFAE), a subsidiary of Saks Incorporated. It competes in the elite luxury department store market with Neiman Marcus, Bergdorf Goodman and Barneys New ; Specialty markets such as QVC QVC Quality Value Convenience QVC Question Valid Command Inc., Home Shopping Network “HSN” redirects here. For other uses, see HSN (disambiguation). The Home Shopping Network (HSN) is a mostly 24-hour shopping network that is seen on cable, satellite, and some terrestrial channels in the United States. , ValueVision International, Shop at Home, QVC England, QVC Germany and The Shopping Channel (Canada); Jewelry chain stores such as Zales, Gordons, and Friedmans; Mass merchandisers such as Wal-Mart and Zellers. Except for the historical information contained herein the matters discussed in this earnings release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, release and sales of new products, and other risk factors detailed in the Company's most recent annual report and filings with the Securities and Exchange Commission. |
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