Point 4 below might affect things very soon. The rest is good news too.
i22
Platinum Communications closes $6.5-million financing
Platinum Communications Corp (C:PCS)
Shares Issued 55,966,731
Last Close 1/31/2014 $0.215
Monday February 03 2014 - News Release
Mr. Bernard Parkinson reports
PLATINUM COMPLETES $6.5 MILLION FINANCING
Platinum Communications Corp. has closed a financing of $6.5-million with the Alberta Treasury Branches (ATB) consisting of new term loan, a revolving line of credit for large capital projects, and a mergers and acquisition line.
Platinum's use of proceeds includes:
- Consolidating five of its current term loans and vendor take backs to reduce both administration and annual debt servicing costs;
- Improving the company's working capital that frees up more cash to expand its commercial sales activities;
- Investing capital in expanding and upgrading the company's growing broadband network;
- Financing a number of sizable commercial customer build projects throughout the province of Alberta that have been sourced as a result of its acquisition strategy;
- Developing additional merger, acquisition and construction opportunities for 2014 and beyond.
We seek Safe Harbor.
© 2014 Canjex Publishing Ltd.