The North West Company Inc.
TSX : NWF

The North West Company Inc.

January 03, 2011 16:31 ET

The North West Company Inc. Announces Refinancing of its Operating Credit Facility for its International Operations

WINNIPEG, MANITOBA--(Marketwire - Jan. 3, 2011) - The North West Company Inc. ("North West") (TSX:NWF) today announced the refinancing of its US$15 million demand revolving operating facility, which is renewable annually. The new credit facility, which is being provided by a new lender, provides North West's International Operations with a US$20 million revolving credit facility for working capital requirements and general business purposes. The credit agreement which expires on October 31, 2012, bears a floating rate of interest. The new credit facility is secured by a charge against certain accounts receivable and inventories of North West's International Operations.

Company Profile

The North West Company is a leading retailer of food and everyday products and services to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific and the Caribbean. North West operates 230 stores under the trading names Northern, NorthMart, Giant Tiger, AC Value Center and Cost-U- Less and has annualized sales of approximately CDN$1.5 billion.

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