The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

GuestLogix Inc. Closes on Loan and Warrant Financing of CDN $ 7 Million

Monday, December 03, 2012

GuestLogix Inc. Closes on Loan and Warrant Financing of CDN $ 7 Million07:00 EST Monday, December 03, 2012TORONTO, ONTARIO--(Marketwire - Dec. 3, 2012) -/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/GuestLogix Inc. ("GuestLogix" or the "Company") (TSX:GXI), is pleased to announce that it has closed a loan and warrant financing (the "Financing") in the amount of $7 million with an additional 3,500,000 common share purchase warrant coverage (the "Warrants"). The Financing consists of promissory notes (the "Notes") having an aggregate principal amount of CDN $7,000,000 plus associated Warrants. The Notes carry an interest rate of 12% per annum payable on maturity of the Notes. The Notes (including accrued and unpaid interest thereon) are due and payable in full on May 31, 2014. The Warrants have an exercise price of CDN $0.80 per Common Share of the Company and are exercisable at any time up until November 30, 2014.About GuestLogix GuestLogix Inc. (TSX:GXI), the leading global provider of onboard store technology and merchandising solutions, helps airlines and other travel operators create, manage, and control onboard retail environments tailored to their needs and their passengers. GuestLogix brings a decade of expertise as a trusted onboard transaction processing partner to airlines around the world. The Company's global headquarters and centre for product innovation is located in Toronto, Canada with regional head offices located in Dallas, Texas (serving Americas) London, UK (serving EMEA), and Hong Kong (serving Asia-Pacific). Sales and support offices are located in Singapore and Shanghai. Logistics centres are situated in Toronto, Dallas, London and Seoul with a software development centre located in India. In September 2012, GuestLogix acquired U.K.-based onboard retail technology provider Initium Onboard with clients in Europe, South America, Asia-Pacific and the Middle East. More information is available at www.guestlogix.com.© 2012 GuestLogix. All Rights Reserved. Forward-Looking StatementsThis news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on July 16, 2012 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: GuestLogix Inc.Brett ProudPresident & Chief Executive Officer416-987-7012bproud@guestlogix.comwww.guestlogix.com