|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's range||2.6672 - 2.6672|
|52-week range||1.9730 - 3.1020|
|Beta (5Y monthly)||1.82|
|PE ratio (TTM)||21.51|
|Earnings date||04 Aug 2021 - 09 Aug 2021|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||30 Dec 2019|
|1y target est||N/A|
VANCOUVER, British Columbia, June 28, 2021 (GLOBE NEWSWIRE) -- Swiss Water Decaffeinated Coffee Inc. (TSX – SWP) (“Swiss Water” or “the Company”) is pleased to announce voting results from its Annual General and Special Meeting held on June 25, 2021. Directors: Director nominees listed in the Information Circular were elected as Directors of Swiss Water. The voting results for individual Directors elected were as follows: Votes For Votes WithheldNominee NumberPercentage NumberPercentageFrank A.
VANCOUVER, British Columbia, May 24, 2021 (GLOBE NEWSWIRE) -- Swiss Water Decaffeinated Coffee Inc. (TSX – SWP) (“Swiss Water” or “the Company”) is pleased to announce an amendment to the existing senior debt facility with the Company’s senior lender, Business Development Bank of Canada, with participation by a new lender, Farm Credit Canada, which would provide the Company with up to an additional $25 million of senior debt financing at an interest rate of approximately four percent per annum and a favourable payment and amortization schedule by increasing the senior debt facility to $45 million from the current $20 million (the “Amended Senior Facility”). The incremental funds available under the Amended Senior Facility, together with the Company’s existing available credit and projected internally generated cash flow, are anticipated to be sufficient to fund the completion of the Company’s Titan 2 production facility. In order to obtain the new financing, the Company requires an amendment to an existing, outstanding convertible debenture (the “Mill Road Debenture”) of the Company issued to Mill Road Capital II, L.P. (“Mill Road”). The terms of the Mill Road Debenture include a restrictive covenant that limits the dollar amount of indebtedness ranking senior to the indebtedness thereunder to a maximum of $45 million. The Company and Mill Road agreed on terms and executed a term sheet on May 20, 2021 (the “Term Sheet”) under which Mill Road would amend the restrictive covenant to increase the restriction on senior indebtedness to a maximum of $60 million, and would extend the maturity date of the Mill Road Debenture by one year, to October 31, 2024. In return, the terms of the Mill Road Debenture would be amended to (i) increase the maximum current interest rate from 7.85% to 9%, (ii) provide an additional 1.5% “payment in kind” interest, (iii) amend the conversion feature by (A) cancelling the existing conversion feature and (B) replacing the existing conversion feature with warrants to allow Mill Road to purchase up to 2.25 million common shares at a price of $3.33 per share (representing a premium of 10% over the closing price on the date of execution of the Term Sheet); (iv) provide for a $100,000 amendment fee payable to Mill Road, (v) remove a restriction limiting Mill Road’s holdings, following conversion, to a maximum of 19.99% of the issued and outstanding shares of the Company; and (vi) reimburse Mill Road for its associated legal expenses (the “Mill Road Amendment”). The Mill Road Amendment is considered to be a related party transaction under the provisions of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions and is subject to the approval of the Company’s Shareholders, other than Mill Road. The Company will seek shareholder approval of the Mill Road Amendment at the Company’s upcoming Annual General and Special Meeting of Shareholders, to be held on June 25, 2021. The Mill Road Amendment is also subject to the approval of the Toronto Stock Exchange. Iain Carswell, Swiss Water’s CFO commented “We are pleased to have secured the necessary financing to not only maintain our existing business, but materially increase our capacity to meet the growing demand for our Swiss Water chemical-free decaffeinated coffee.” Don Tringali, Swiss Water’s Chairman added, “This financing package is the product of an extensive review of all financing alternatives over the past six months undertaken in conjunction with an independent financial advisor. I would like to thank Iain as well as several of my fellow board members for their work and the substantial time devoted to negotiating the best possible deal for the Company.” Full details of the Mill Road Amendment, including the analysis and deliberations of the Company’s directors and the directors’ recommendation to shareholders, will be set out in the Company’s Management Information Circular, which is expected to be sent to shareholders on or about May 31, 2021. Company Profile Swiss Water Decaffeinated Coffee Inc. is a leading specialty coffee company and a premium green coffee decaffeinator which employs the proprietary SWISS WATER® Process to decaffeinate green coffee without the use of chemicals. It also owns Seaforth Supply Chain Solutions, a green coffee handling and storage business. Both businesses are located in the cities of Burnaby and Delta, British Columbia. For more information, please contact: Iain Carswell, Chief Financial OfficerSwiss Water Decaffeinated Coffee Inc.Phone: 604.420.4050Email: firstname.lastname@example.orgWebsite: investor.swisswater.com Forward-Looking Statements: Certain statements in this press release may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements may include such words as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance, as well as management’s current estimates, but which are based on numerous assumptions and may prove to be incorrect. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties, including, but not limited to, risks related to processing volumes and sales growth, operating results, the supply of utilities, the supply of coffee, general industry conditions, commodity price risks, technology, competition, foreign exchange rates, construction timing, costs and financing of capital projects, a potential impact of the COVID-19 pandemic, and general economic conditions. The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by applicable securities law, Swiss Water Decaffeinated Coffee Inc. undertakes no obligation to publicly update or revise any such statements to reflect any change in management’s expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those described herein.
FAIRFAX, Va., May 10, 2021 (GLOBE NEWSWIRE) -- Information Analysis Incorporated (OTCQB: IAIC) (“IAI” or “the Company”) today announced the addition of Donald J. Tringali to the Company’s Board of Directors, effective May 6, 2021. Stan Reese, IAI CEO, commented, “Don is a seasoned executive and corporate board member. In my recent letter to shareholders, I detailed the significant opportunities ahead of us and our intention to be aggressive in pursuing our growth plan. A big part of that is having the right board in place to provide direction and counsel and we expect Don’s legal background and breadth of experience to be a great fit.” Mr. Tringali is the founder and Chief Executive Officer of Augusta Advisory Group, a boutique financial and business consulting firm providing a full range of executive, operations and corporate advisory services to companies. He has held a variety of C-level executive positions and directorships for public and private companies across many industries. In addition to board membership at the Company, he is currently on the boards of Swiss Water Decaffeinated Coffee, Inc. (TSX: SWP.TO), POSaBIT Systems Corporation (CNQ: PBIT.CN), and Paragon Space Development Corporation (private). He is the former Chairman of the Board of National Technical Systems, Inc. (NTSC), a leading international testing and engineering firm that was sold to a private equity firm in 2013, and the former Executive Chairman of the Board of Cartesian, Inc. (CRTN), an international telecom consulting company, which was sold to private equity in 2018. Mr. Tringali began his career as a corporate attorney in Los Angeles, where he was a partner in a prominent firm representing public and private companies in general business matters and M&A transactions. Mr. Tringali holds a BA in Economics from UCLA and a JD (Juris Doctor) degree from Harvard Law School. About Information Analysis IncorporatedInformation Analysis Incorporated (www.infoa.com), headquartered in Fairfax, Virginia, is an information technology product and services company. The Company is a software conversion specialist, modernizing legacy systems and securely extending their reach to the Cloud and more modern platforms. Additional information for investorsThis release may contain forward-looking statements regarding the Company's business, customer prospects, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in the forward-looking statements. Investors should read and understand the risk factors detailed in the Company's 10-K for the fiscal year ended December 31, 2020 and in other filings with the Securities and Exchange Commission. Contact:Jeremy Hellman, CFA The Equity Group Inc. (212) 836-9626 email@example.com