Calgary, Alberta--(Newsfile Corp. - November 8, 2024) - Rumbu Holdings Ltd. (TSXV: RMB) ("Rumbu" or the "Company"), announces that its previously announced Credit Facility with the Bank of Montreal was amended and restated and the facility has been increased by the amount of $3,582,000 CDN to an aggregate facility of $9,960,000 CDN. The Amended Facility will allow the Company to complete the acquisition of two (2) additional funeral homes in Western Canada. Upon the completion of these acquisitions, which are scheduled before the end of November, 2024, the Company will own and operate six (6) funeral homes in Western Canada.
About Rumbu
Rumbu is a publicly traded Funeral Service, Memorial and Death Care Company trading on the TSX Venture Exchange under the trading symbol RMB. The Company operates in the funeral home business in Western Canada and is committed to acquiring, partnering, managing and operating funeral homes and crematoriums and providing funeral services to the public in its market area. With the aging ownership in the funeral service business, Rumbu plans to lead the way in assisting funeral home owners to transition their businesses to current employees or aspiring funeral directors who are looking to operate in rural or mid market communities.
Neither the 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.
Cautionary and Forward-Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward- looking statements. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable laws.
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