Synergex Corporation
TSX : SYX

Synergex Corporation

July 14, 2010 20:27 ET

Synergex Closes $3 Million Financing

MISSISSAUGA, ONTARIO--(Marketwire - July 14, 2010) - Synergex Corporation ("Synergex") or (the "Company") (TSX:SYX) a premier international sales, marketing, and distribution company today announced that its Synergex Logistics Corp. subsidiary has completed an operating credit facility in the amount of $3 million. The Company has paid out its asset based lender, Callidus Capital Corporation and will use the funds pursuant to this financing for general corporate purposes. The Company's term lender, Integrated Private Debt Fund LP has also further supported the Company by extending the term of its loan.

"The new $3 million financing will enhance the Company's liquidity as we approach our seasonal peak operating period. I look forward to capitalizing on the opportunities which will now be available to the Company." said David Aiello, President and Chief Executive Officer.

About Synergex Corporation

Synergex is a premier international service provider of comprehensive supply chain management services in 6 countries across the Americas, specializing in logistics services, distribution, licensing, sales, localization, packaging and marketing of digital entertainment products. Headquartered in Mississauga, Ontario, with operations across North, Central and South America, Synergex serves a broad base of customers that includes a number of multinational enterprises. Synergex is listed on the Toronto Stock Exchange and trades under the symbol SYX. For further information, please visit www.syx.ca.

Forward-Looking Statements

Some of the statements contained in this news release may be forward-looking statements such as the Company's future plans, objectives and goals. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties, which could cause actual results to vary considerably from these statements. 

Contact Information

  • Synergex Corporation
    David Aiello
    President and Chief Executive Officer
    905-565-1212
    david.aiello@syx.ca