Synergex Corporation
TSX : SYX

Synergex Corporation

November 23, 2009 17:37 ET

Synergex Closes $5 Million Credit Facility

MISSISSAUGA, ONTARIO--(Marketwire - Nov. 23, 2009) - Synergex Corporation ("Synergex") or (the "Company")(TSX:SYX) a premier international sales, marketing, and distribution company today announced that it has completed a revolving credit facility in the amount of $5 million from Callidus Capital Corporation ("Callidus"). The Company will utilize the credit facility for general working capital purposes. 

"The financing from Callidus will enhance the Company's working capital. I am pleased about the high level of support Callidus has shown Synergex, much like our other premiere financial partners have over the last several years." said David Aiello, President and Chief Executive Officer. 

The Company previously announced its engagement with Callidus when it accepted a credit proposal from Callidus. Since the initial proposal, the limit was adjusted to reflect the Company's revised working capital requirements.

About Synergex Corporation

Synergex is a premier international service provider of comprehensive supply chain management services in 6 countries across the Americas, specializing in distribution, licensing, sales, localization, packaging and marketing of digital entertainment products. Headquartered in Mississauga, Ontario, with operations across North, Central and South America, Synergex serves a broad base of customers that includes a number of multinational enterprises. Synergex is listed on the Toronto Stock Exchange and trades under the symbol SYX. For further information, please visit www.syx.ca.

Forward-Looking Statements

Some of the statements contained in this news release may be forward-looking statements such as the Company's future plans, objectives and goals. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties, which could cause actual results to vary considerably from these statements.

Contact Information

  • Synergex Corporation
    Kevin Daniels
    Chief Communications Officer
    905-740-3128
    kevin.daniels@syx.ca
    or
    Synergex Corporation
    David Aiello
    President and Chief Executive Officer
    905-565-1212
    david.aiello@syx.ca