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Immunotec Announces Closing $3.45M of New Financing

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  • Immunotec Announces Closing $3.45M of New Financing

    Sept. 15, 2011, 4:01 p.m. EDT

    VAUDREUIL-DORION, QUEBEC, Sep 15, 2011 (MARKETWIRE via COMTEX) -- Immunotec Inc. CA:IMM +5.88% , a Canadian based company and a leader in the wellness industry (the "Company"), today announces the closing of a financing with TD Bank Group for the sum of $3, 450,000. The new financing, composed of an Operating Loan up to $1, 250,000 and a Committed Term Facility of $2, 200,000, will replace in its entirety the existing Credit Facility and Demand Loan that was in place with another financial institution.

    "This financing will provide us with the right capital structure to support our business" said Patrick Montpetit, Immunotec's Vice President and Chief Financial Officer.

    About Immunotec Inc.

    Immunotec is a world class business opportunity supported by unique scientifically proven products that improve wellness. Headquartered with manufacturing facilities near Montreal, Canada, the Company also has distribution capacities to support its commercial activities in Canada and internationally to the United States, Europe, Mexico and The Caribbean.

    About TD Bank Group.

    The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD). TD is the sixth largest bank in North America by branches and serves approximately 20 million customers in four key businesses operating in a number of locations in key financial centres around the globe:

    Canadian Personal and Commercial Banking, including TD Canada Trust, TD Insurance and TD Auto Finance Canada; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank and TD Auto Finance U.S.; and Wholesale Banking, including TD Securities.

    TD also ranks among the world's leading online financial services firms, with more than 7 million online customers. TD had CDN$665 billion in assets on July 31, 2011. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

    The Company files its consolidated financial statements, its management and discussion analysis report, its press releases and such other required documents on the SEDAR database at www.sedar.com and on the Company's website at www.immunotec.com . The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM.

    "The TSX Venture does not accept responsibility for the adequacy or accuracy of this release."

    http://www.marketwatch.com/story/imm...1-09-15-161590
    "To go bravely forward is to invite a miracle."

    "Worry is the darkroom where negatives are formed."

  • #2
    I posted this because I just found out today, that the friendly neighborly-type bank that may have just taken over your local bank, proclaiming themselves to be from Delaware, is in fact a Canadian banking firm that has been buying up failed banks in this country. They are a firm out of Toronto, and because they did not want Americans to perceive that their money was going outside the country, set up a 'store front' in Wilmington, Delaware.

    There is at least one other Canadian banking firm that is also doing this, but the name escaped the memory of my informant, a law enforcement officer in our community. I will post more information as I learn it.
    "To go bravely forward is to invite a miracle."

    "Worry is the darkroom where negatives are formed."

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