November 26, 2012 14:30 ET
WINDSOR, ONTARIO--(Marketwire - Nov. 26, 2012) - Reko International Group Inc. (TSX VENTURE:REK) ("Reko"), announced that it has signed a commitment letter with Motor City Community Credit Union ("Motor City") to refinance its mortgage. Reko's existing mortgage was due on July 1, 2013.
After finalization of the legal terms and securitization of the assets pledged, Reko will generate sufficient funds to repay its existing mortgage and pay all legal expenses associated with the mortgage. Reko and Motor City anticipate closing the transaction prior to the end of Reko's second quarter.
"Reko is pleased to have the continued financial support of Motor City," says Diane Reko, chief executive officer. "This represents another significant step in strengthening Reko's balance sheet."
About Reko International Group Inc.
Reko International Group Inc. is a publicly traded, certified woman owned manufacturing company located in Southwestern, Ontario. Established in 1976, Reko International Group Inc. is a diverse value-added designer and manufacturer of customized machining and engineering solutions to OEMs and their Tier I suppliers in dynamic sectors as rail equipment, oil and gas distribution, mining, military, capital equipment, and automotive.
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.
Reko International Group Inc.Carl A. MertonChief Financial Officer(519) 727-3287www.rekointl.com
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