Logibec Groupe Informatique Ltd.
TSX : LGI

Logibec Groupe Informatique Ltd.

December 10, 2007 21:00 ET

Logibec Closes C$40 Million Credit Facilities

MONTREAL, QUEBEC--(Marketwire - Dec. 10, 2007) - Logibec Groupe Informatique Ltd. (TSX:LGI) (the "Company" or "Logibec") today announced that it closed two secured credit facilities aggregating C$40 million provided equally by National Bank of Canada and The Bank of Nova Scotia. These facilities will be used to reimburse the temporary credit facilities put in place on November 19, 2007 to finance the acquisition of the assets of Achieve Healthcare Technologies L.P. They will also serve to finance the Company's growth strategy in the United States.

The credit facilities are comprised of revolving reducing term loans that mature in September 2012 and that are repayable in quarterly instalments beginning June 2008.

ABOUT LOGIBEC

Logibec is among the ten largest Canadian companies specializing in the development, marketing, implementation and support of information systems for the health and social services sector. Logibec serves over 200 clients throughout Quebec and the rest of Canada. Through its wholly-owned subsidiary MDI Technologies, Inc., Logibec also serves approximately 6,000 senior living communities and long-term care facilities throughout the United States. These services are delivered by an experienced team of some 390 employees. The Company has its head office in Montreal as well as offices in Quebec City, Edmonton, Smithfield, Tampa, St. Louis and Minneapolis.

This news release contains forward-looking statements reflecting Logibec Groupe Informatique Ltd. objectives, estimates and expectations. Such statements may be marked by the use of verbs such as "believe", "anticipate", "estimate" and "expect" as well as the use of the future or conditional tense. By their very nature, such statements involve risks and uncertainty. Actual results may differ significantly from the Company's forecasts or expectations.

Contact Information

  • LOGIBEC GROUPE INFORMATIQUE LTD.
    Claude Roy
    President and Chief Executive Officer
    514-766-0134
    or
    LOGIBEC GROUPE INFORMATIQUE LTD.
    Marc P. Brunet
    Chief Financial Officer
    514-762-3833
    www.logibec.com