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INFINITE GRAPHICS OBTAINS ADDITIONAL FINANCING

 MINNEAPOLIS, Nov. 24 ~PRNewswire~ -- Infinite Graphics Incorporated (IGI) announced today that it has obtained additional financing from a private investor and a financing company. These new credit arrangements will provide IGI with approximately $245,000 in cash for operations and will reduce debt by


approximately $500,000.
 IGI has entered into an agreement with an asset-based lender for an operating credit line based on IGI's accounts receivable. It is anticipated that the amount initially available under this line will be approximately $350,000. IGI has also entered into an agreement with a private investor for a $250,000 term loan due August 1994. Part of the consideration for this loan is IGI's grant to the investor of warrants, expiring November 1997, to purchase up to 350,000 shares of IGI's common stock at $0.125 per share.
 The company will use $355,000 for the proceeds of these loans to reduce the $1,295,417 it owes to its current bank lender. The remainder of its debt to the lender, after discounts, will be satisfied by IGI's delivery of a five-year promissory note in the amount of $207,672. Discounts in principal and accrued interest of approximately $780,000, net of transaction costs, will be reflected in IGI's profit and loss statement for the third quarter ending Jan. 31, 1993. It is anticipated that, as a result of these transactions, IGI's balance sheet as of that date will reflect a debt to equity ratio of 1.7 to 1.
 Infinite Graphics Incorporated is a total solutions precision graphics company that has served the engineering and manufacturing marketplace since 1969. Infinite Graphics develops and markets engineering graphics services and products for precision graphics and printed circuit board manufacturing, design and testing in Minneapolis. The company markets its services and products in the United States, Canada and Western Europe.
 -0- 11~24~92
 ~CONTACT: Lee Miller, CFO of Infinite Graphics, 612-721-6283~


CO: Infinite Graphics Incorporated ST: Minnesota IN: CPR SU:

DS -- MN018 -- 1265 11~24~92 16:53 EST
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Publication:PR Newswire
Date:Nov 24, 1992
Words:337
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