November 12, 2007 08:56 ET

Prosys Announces New Credit Facilities Up to CAN$ 8 Million

MONTREAL, QUEBEC--(Marketwire - Nov. 12, 2007) - Prosys Tech Corporation (the "Corporation") (TSX VENTURE:POZ) is pleased to announce that National Bank of Canada has provided to Prosy-Tec Computer Inc., a wholly-owned subsidiary of the Corporation, credit facilities in an amount up to CAN$ 8,000,000 for the period from February 1st to May 31st of each year and up to CAN$ 4,500,000 outside this period. The new credit facilities are guaranteed by the Corporation and will be used to finance the Corporation and its subsidiaries' ongoing operations.

The credit facilities may be used by way of direct advances made either as adjusted prime rate loans or by issuance of letters of credit, up to an aggregate amount of CAN$ 1,000,000.

"These new credit facilities are part of our plan to consolidate credit facilities of the Corporation and its subsidiaries following our recent acquisition projects" says George Hebert, President and C.E.O

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Prosys Tech Corporation
    Mr. Georges Hebert
    President and Chief Executive Officer
    514-255-3454, ext. 270