VANCOUVER, BC – June 3, 2016 – HealthSpace Data Systems Ltd. (the “Company” or “HealthSpace”) is pleased to announce the refinancing of its current and term debt into a single credit facility. Pursuant to the refinancing agreement, R.C. Morris & Company Special Opportunities Debt Fund II Limited Partnership (the “Lender” or “R.C. Morris”), has advanced new credit facilities of $500,000 and will consolidate existing credit facilities for a total of $2.2 million.
The new credit facilities will be due April 30, 2018. Closing of the credit facility is anticipated to be during the month. Ali Hakimzadeh, Chairman and Director of Healthspace comments: “This refinancing provides for the stability and streamlining of our balance sheet and provides the Company with the necessary working capital to achieve its growth objectives and to solidify the foundation of the Company and enables us to focus on the growth of the Company through 2018.”
About Healthspace Data Systems Ltd.
HealthSpace is an industry leader providing inspection, information and communication management systems for federal, state, county and municipal governments. Over the last decade the Company has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. Clients range in size from small county organizations to state-wide systems with over 910 concurrent users, as well as national programs. HealthSpace specializes in the field of developing, installing, and maintaining inspection and regulatory management systems for environmental and public health organizations.
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
For more information please contact:
Warwick Smith, CEO
+1 604 250 1737
Peter J. Kletas
PJK & Associates Inc.