Pareto establishes $5.5 million credit facility1 February 2006
Pareto Corporation (TSX: PTO), a leading marketing services company, today announced that it has established a $5.5 million demand credit facility with a new lender, RBC Financial Group. The facility, which replaces a $2.5 million credit Pareto previously held with another financial institution, will be available to serve the Company's short-term financing and working capital needs. Pareto is not immediately drawing on the new facility. "We are pleased to have agreements in place with both RBC and our long-term lenders, RoyNat Capital," said Kerry Shapansky, President and Chief Executive Officer of Pareto. "With our current strong cash position, low debt levels and committed support from lenders, I believe we are very well positioned to fund our continued growth and to take advantage of the acquisition opportunities we are seeing in the marketplace." About Pareto Corporation Pareto Corporation is a marketing services company that offers retail, incentive, event and managed solutions to leading companies in the financial services, automotive, retail, communications, pharmaceutical, service and technology sectors. Pareto provides measurable, quantifiable services that complement our clients' marketing and sales departments and deliver big value to their vital business relationships. For more information, please visit our website at www.pareto.ca. This press release contains forward-looking statements related to expected future events and financial operating results of Pareto that involve risks and uncertainties. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed from time to time in Pareto's SEDAR filings. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. For further information: Kerry Shapansky, President and Chief Executive Officer, Pareto Corporation, (416) 790-2350; Clint Becker, Chief Financial Officer, Pareto Corporation, (416) 790-2360; Jeff Codispodi, Investor Relations, Equicom Group, (416) 815-0700 ext.261
Source: newswire
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