Guelph, Ontario -- Armtec Infrastructure Inc. ('Armtec' or the 'Company') (TSX: ARF and ARF.DB) today announced that, following receipt of conditional listing approval from the TSX, it has entered into a Loan Agreement and Warrant Agreement with a Brookfield Asset Management company in connection with the $125 million credit facility previously announced by the Company on July 3, 2011. Entry into these Agreements is a requirement for the first tranche of $90 million under the facility being made available to Armtec. Availability of the first tranche now remains subject to signing and registering security documentation that provides a first charge on Armtec's assets. The second tranche of $35 million will become available upon the satisfaction of certain additional due diligence conditions.
Armtec intends to draw on the new facility to repay in full the lenders under its existing senior facility, which Armtec expects to occur in either the third or fourth quarter depending on the availability of the second tranche. The new credit facility will also be available for general corporate purposes.
ABOUT ARMTEC INFRASTRUCTURE INC.
Armtec is a leading manufacturer and marketer of a comprehensive range of infrastructure products and engineered construction solutions for customers in a diverse cross-section of industries that are located in every region of Canada, as well as in selected markets globally. These markets include Canada's national and regional public infrastructure markets and private sector markets in agricultural drainage, commercial building, residential construction and natural resources. Operating through its network of regional offices and production facilities across the country, Armtec's broad range of engineered solutions include products for drainage, bridge applications, soil retention, rehabilitation and water management systems including corrugated high-density polyethylene, corrugated steel and concrete pipe; an array of architectural and structural precast and pre-stressed concrete products from steps, paving stones, slabs and wall panels to highly engineered structural components designed and installed for projects such as bridges, sports venues and parking garages; and a full suite of noise barriers, acoustic enclosure and wall systems along with associated retaining wall and traffic barrier systems.