TORONTO, ONTARIO--(Marketwired - Oct. 26, 2016) - Tellza (TSX:TEL) announced today that it has expanded its senior credit facility to $7.5 Million, an increase of $1.0 Million from its previous senior credit facility limit of $6.5 Million. As at September 30, 2016, Tellza had no outstanding debt under its senior credit facility.
"Tellza has been with the same senior lender for over 15 years. We appreciate our banking relationship and the support shown by our banker today as well as throughout the years. Our focus on profitable growth and our investment in infrastructure over the last six years has been rewarding to our shareholders. We are excited about our position within the competitive international long distance business," said Gary Clifford, Executive Chairman.
Through its communications arm, Tellza is focused on the "nearly free" market for international communications. This business unit, which operates under several brands, has been consistently profitable for Tellza for the past six years and delivers in excess of USD$100M of revenue per fiscal quarter.
Through its investment arm, Tellza:
- owns 33% of Rightway Funding Holdings LLC, a structured settlements business which has operated profitably since inception. Tellza acquired its interest in this business in 2016. (http://www.rightwayfunding.com/)
- owns 9.9% of Merkez Factoring A.S., a company which factors business receivables and operates at a profit. (http://www.merkezfaktoring.com.tr)
The Company's financial statements and other disclosures are available on SEDAR. The Company's corporate profile is located at www.tellza.com/#investors.
Tellza Communications Inc. is a global communications company operating under several brands including Phonetime, and MatchCom. Tellza Technologies provides real-time big data management tools for the telecommunications market. Tellza Investments is focused on the financial products support business through our portfolio investments in Merkez and Rightway. Tellza is a public company with common shares listed and traded on the Toronto Stock Exchange (TEL).
Caution Regarding Forward Looking Information:
This press release contains forward-looking statements, which may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. These statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. Tellza's actual results could differ materially from those currently anticipated due to a number of factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time. See www.sedar.com which contains all of Tellza's securities filings.