Home > Press > Raymor: Assets Based Financing of $4,950,000
Raymor Industries Inc. (TSX VENTURE: RAR) Raymor entered into a financing agreement with a local financial institution who will provide assets based financing of $4,000,000 at an interest rate of 10 % for a term of up to 10 years. In addition, a line of credit in the amount of $950,000 has also been arranged with the same lender supporting the company's receivables and inventories.
Raymor: Assets Based Financing of $4,950,000
BOISBRIAND, QUEBEC, CANADA | Posted on May 23rd, 2007
As part of the financing agreement, Raymor will issue 75,000 share purchase warrants. Each warrant will enable its holder to purchase one additional common share of the Company at a price of $1.20 until May 14, 2009. The share purchase warrants will be subject to a four month and one day hold period expiring on September 15, 2007.
Commenting on the news above, Mr. Stephane Robert, President and CEO of Raymor Industries said the following:
"The closing of this financing will allow Raymor to be more aggressive in growing each division of our company."
Raymor announces the granting of 120,000 incentive stock options exercisable at a price of 1.20 $ per share to officers and directors of Raymor. The issuance of the stock options is subject to acceptance by the TSX Venture Exchange.
About Raymor Industries Inc.
RAYMOR INDUSTRIES INC. (TSX-V: RAR) has as its mission to become a leading developer of high technology for the production of single-walled carbon nanotubes, nanomaterials and other advanced materials for high value-added applications. Raymor Industries operates three wholly-owned, industrial subsidiaries, Raymor Nanotech, Raymor Aerospace and AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four divisions: (1) nanotechnology products, including nano-powders, nano-coatings, and single-walled carbon nanotubes (C-SWNT) for "the applications of tomorrow"; (2) thermal spray coatings, which largely targets military, aeronautical, aerospace, specialized industrial, and mining applications; (3) spherical metallic powders, primarily used for biomedical and aerospace applications; and (4) net-shape forming, a component manufacturing technique used for ballistic protection and other aerospace and military applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephane Robert, President.
FOR MORE INFORMATION ON RAYMOR INDUSTRIES, A NANOTECH 100 COMPANY AND LIST OF NANOTECH 100 COMPILED BY IANANO, PLEASE VISIT: http://www.raymor.com
(VERSION FRANCAISE SERA DISPONIBLE SUR LE SITE WEB DE RAYMOR)
For more information, please click here
Raymor Industries Inc.
450-434-1004 ext.: 444
Toll Free: 888-734-1004
Copyright © Market Wire
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Arrowhead to Present at 2015 RBC Capital Markets' Global Healthcare Conference February 17th, 2015
Iran 1st among Islamic Nations in Scientific Production, Nanotechnology February 16th, 2015
Harris & Harris Group Portfolio Company D-Wave Systems Raises an Additional $29 Million (CAD), Closing 2014 Financing at $62 Million (CAD) February 2nd, 2015
Malaysian Nanotechnology Company Nanopac Innovation Ltd. lists on the NSX January 19th, 2015
Chromium-Centered Cycloparaphenylene Rings as New Tools for Making Functionalized Nanocarbons February 24th, 2015
Building tailor-made DNA nanotubes step by step: New, block-by-block assembly method could pave way for applications in opto-electronics, drug delivery February 23rd, 2015
Half spheres for molecular circuits: Corannulene shows promising electronic properties February 17th, 2015
SouthWest Nanotechnologies CEO Dave Arthur Appointed to the Board of Affiliates of Rice University Professional Science Masterís Program February 13th, 2015
Leti to Offer Updates on Silicon Photonics Successes at OFC in LA February 27th, 2015
Moving molecule writes letters: Caging of molecules allows investigation of equilibrium thermodynamics February 27th, 2015
Untangling DNA with a droplet of water, a pipet and a polymer: With the 'rolling droplet technique,' a DNA-injected water droplet rolls like a ball over a platelet, sticking the DNA to the plate surface February 27th, 2015
Graphene shows potential as novel anti-cancer therapeutic strategy: University of Manchester scientists have used graphene to target and neutralise cancer stem cells while not harming other cells February 26th, 2015
In quest for better lithium-air batteries, chemists boost carbon's stability: Nanoparticle coatings improve stability, cyclability of '3DOm' carbon February 25th, 2015
Purification of Industrial Wastewater Using Visible-Light Sensitive Photocatalysts February 24th, 2015
Increasing Efficiency of Cooling Devices in Oil, Gas Industries February 21st, 2015
Ligar secures investment from Wallace Corporation to commercialise polymers that pick out good and bad molecules: Ground-breaking science innovation removes molecules in the wrong place from liquids February 15th, 2015