Reeflex Solutions Secures New Credit Facility with RBC
Reeflex Solutions Inc. Gains New Momentum with RBC Credit Facility
Reeflex Solutions Inc. (TSXV: RFX), a key player in advanced engineering and manufacturing solutions, has made significant strides by securing a credit facility with the Royal Bank of Canada (RBC). This collaboration is set to empower Reeflex in its operational growth and flexibility.
The newly arranged credit facilities consist of a revolving demand facility of $1 million and a revolving term facility totaling $500,000. The revolving demand facility bears an interest rate linked to the Royal Bank Prime Rate plus a margin for flexibility. This structure provides Reeflex with the necessary capital to address working capital needs and potential expansion opportunities.
Understanding the Credit Agreement
With the revolving term facility, Reeflex has access to a series of term loans, both variable and fixed rate, with terms spanning up to 72 months. The specific terms related to repayment will be determined at the time any funds are drawn from this facility, allowing Reeflex to tailor its financial strategy based on its unique requirements.
John Babic, President and CEO of Reeflex Solutions, expressed optimism regarding this financial backing: “We are very pleased to have secured this credit facility with RBC. This financing represents a vote of confidence in our business model, management team, and long-term strategic vision. It also enhances our ability to execute on our growth plans.” This enthusiasm underscores the positive outlook for Reeflex as they continue to build momentum in their sector.
Reeflex's Growth Potential
The secured credit facilities provide Reeflex with critical financial stability, allowing the company to navigate the varying demands of its industry effectively. This financing will support not only current operational needs but also future growth, underscoring the potential for the company to expand its services and enhance its competitive edge.
As a public company, Reeflex operates with transparency, and its credit agreement includes standard financial reporting obligations and customary fees. This ensures that all stakeholders are informed of the company's financial health and strategic direction.
About Reeflex Solutions
Reeflex Solutions is known for providing cutting-edge engineering and manufacturing solutions across a spectrum of industry sectors. Through its wholly-owned subsidiary, Coil Solutions Inc., Reeflex specializes in offering innovative coil tubing injectors and downhole tools tailored for the oil and gas industry. Additionally, the company’s manufacturing arm, Ranglar Manufacturing, focuses on creating bespoke mobile equipment designed to cater to a wide array of industrial applications.
This dual approach to business not only strengthens the company's market position but also enhances its capabilities to respond effectively to changing market needs and client demands.
Contact Information
For further inquiries regarding Reeflex Solutions Inc. and its offerings, please reach out to:
John Babic
President, Chief Executive Officer and Director
Email: john.babic@reeflex.ca
Telephone: 780-909-4220
Frequently Asked Questions
What is the purpose of the credit facility secured by Reeflex?
The credit facility will provide Reeflex with financial support for operational flexibility and growth initiatives.
What are the components of the credit facilities?
The credit facilities include a revolving demand facility of $1 million and a revolving term facility of $500,000.
How does this credit agreement benefit Reeflex?
This agreement enhances the company's ability to fund working capital needs and explore expansion opportunities.
Who is the CEO of Reeflex Solutions?
John Babic serves as the President and CEO of Reeflex Solutions Inc.
What services does Reeflex provide?
Reeflex delivers advanced engineering and manufacturing solutions, particularly in the oil and gas sector, through its subsidiaries Coil Solutions and Ranglar Manufacturing.
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