XPEL Secures Revolving Line Of Credit
XPEL SECURES REVOLVING LINE OF CREDIT
SAN ANTONIO, TEXAS, April 6, 2011…XPEL Technologies Corp. (the “Company”) announced today it has entered into a US$150,000 revolving line of credit agreement with The Bank of San Antonio to support its ongoing working capital needs.
The Company must satisfy certain loan covenants on an ongoing basis. The Bank of San Antonio has been granted a security interest in substantially all of the Company’s current and future assets. The line has a variable interest rate of the Wall Street Journal Prime Rate plus 2% with a floor of 6% and matures on March 28, 2012.
About XPEL Technologies Corp:
XPEL is the leading supplier of automotive paint and headlamp protection films with over 70,000 vehicle-specific applications and a worldwide network of trained installers. Additional information can be found on the Company’s website at www.xpel.com
XPEL Technologies Corp. (TSX VENTURE:DAP.U)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Chief Executive Officer
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)