EDMONTON - July 12, 2010 (www.Investorideas.com newswire) - Fredy Ramsoondar, CFO and Executive Vice President of United Protection Security Group Inc. (UPSG or the Company), (TSX-V: UZZ), announces that the Company has entered into an agreement providing for an Equity Line Facility (“ELF”) with Dutchess Opportunity Cayman Fund Ltd., a fund managed by Dutchess Capital Management, II LLC. Under the terms of the ELF, Dutchess has committed to provide up to $5 million of capital during the next three years, at the Company's discretion, through the issue of common shares.
"This new equity line facility gives us a flexible and inexpensive access to capital to support our growth initiatives." said F.Ramsoondar, Chief Financial Officer of the Company. "By demonstrating access to capital and the sequential improvement of our financial performance we are sending a clear and positive message to our shareholders".
- Published: 11 July 2010
- Written by sandihop