Globelle Corporation Announces New Financing.MISSISSAUGA, ONTARIO--(BUSINESS WIRE)--June 23, 1997--Globelle Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GLP See gateway location protocol. .) ("Globelle"), a distributor of micro-computer and related products today announced that they have entered into a new revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility with General Electric Capital Canada Inc. for $Cdn 60 million and a term of 3 years. The facility will be used to repay Globelle's existing operating line of approximately $Cdn 22 million and the balance will be used for working capital. Globelle is a distributor of micro-computer products including notebooks, servers, desk-top computers, disk drives, monitors, terminals, printers, communication products, local area networks and software products, The Company has operations in Canada, the United States, the United Kingdom and Israel. The common shares are traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol GLP. CONTACT: Globelle Corporation Ron Austin, 905/629-7108 905/629-2028 (FAX) |
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