Health Space aims to solidify the foundation of the company

HealthSpace Data refinances credit facilities

2016-06-03 20:34 ET - News Release

Mr. Warwick Smith reports
REFINANCING OF CREDIT FACILITIES
HealthSpace Data Systems Ltd. is refinancing its current and term debt into a single credit facility. Pursuant to the refinancing agreement, R.C. Morris & Company Special Opportunities Debt Fund II LP 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."
We seek Safe Harbor.