3 days Ago
iFabric ( OTCQX:IFABF ) announces an agreement to acquire of the remaining 25% of the shares in its subsidiary company that owns its Markham, Ontario , warehouse property. The acquisition will be financed with a C$3.7 million mortgage from BMO for share purchase and loan repayment.
Concurrently, the company has signed a new banking agreement with BMO, increasing its revolving operating credit facility from $6.75 million to $12 million. This expanded line of credit, secured by company assets and a mortgage on Markham property, will support future growth and expansion initiatives.
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