Immunotec Inc.
TSX VENTURE : IMM

Immunotec Inc.

July 20, 2015 16:05 ET

Immunotec Obtains $2,780,000 of New Financing

VAUDREUIL-DORION, QUEBEC--(Marketwired - July 20, 2015) - Immunotec Inc. (TSX VENTURE:IMM), a direct-to-consumer company and a leader in the nutritional industry (the "Company" or "Immunotec"), announces that it has obtained additional financing from the Toronto Dominion Bank ("TD Bank") and a new credit facility from Export Development Canada ("EDC").

"We are pleased to receive the continued support of TD Bank and partner with EDC for our exportation activities", said Charles L. Orr, Chief Executive Officer of Immunotec. "These additional funds will enable us to continue to invest in our supply chain platform in order to support our activities and growth."

Transaction Highlights

  • In addition to existing loans, the Corporation now benefits from a new operating loan from TD Bank in a maximum amount of $1,500,000, which is guaranteed by EDC, to be used to finance the growth and activities of the Corporation's Mexican subsidiaries.

  • New reducing term facilities from TD Bank and EDC in the total amount of $1,280,000 will be used namely for the acquisition by the Corporation of fixed assets and the modernisation of Immunotec's manufacturing infrastructure in support of Immunotec's export activities.

"Immunotec's innovative products have struck an international cord, and EDC's financing is designed to help them take advantage of that increased demand all over the world, not the least of which is their strong upswing in Mexico," said Julie Pottier, Vice-President, Quebec Region, EDC

About Export Development Canada

EDC is Canada's trade finance agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities. As a profitable Crown corporation that operates on commercial principles, EDC works together with private- and public-sector financial institutions to create greater capacity for Canadian companies to engage in trade and investment.

About Immunotec Inc.

Immunotec is a Canadian-based Company that develops, manufactures, markets and sells research-driven nutritional products through direct-to-consumer sales channels in Canada, the U.S. and Mexico. The Company offers an extensive family of nutritional products targeting health, wellness, weight management, as well as energy and performance. The Immunocal family of products is supported by over 40 published articles and supporting science in medical and scientific literature.

Please visit us at www.immunotec.com for additional information.

The Company files its continuous disclosure documents on the SEDAR database at www.sedar.com and on the Company's website at www.immunotec.com. The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Patrick Montpetit CPA,CA, CF
    Vice-President and Chief Financial Officer
    Immunotec Inc.
    (450) 510-4527