{"id":58025,"date":"2025-01-30T15:54:45","date_gmt":"2025-01-30T15:54:45","guid":{"rendered":"https:\/\/peraltafinancing.com\/aerospace\/ftg-corporation-ftg-completes-new-banking-agreement\/"},"modified":"2025-01-30T15:54:45","modified_gmt":"2025-01-30T15:54:45","slug":"ftg-corporation-ftg-completes-new-banking-agreement","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=58025","title":{"rendered":"FTG Corporation (FTG) Completes New Banking Agreement"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>TORONTO, ONTARIO (January 29, 2025) \u2013 Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) (\u201cFTG\u201d) today announced that is has completed a new 3-year banking agreement with BMO Corporate Finance, which matures December 11, 2027, and which includes the following features:<\/p>\n<ul>\n<li>Committed revolving operating loan facility of USD $10.0M and committed revolving term credit facility of USD $10.0M<\/li>\n<li>Accordion facility of USD $15.0M in support of acquisitions<\/li>\n<li>Ancillary credit products for foreign currency hedging, precious metals hedging and credit cards<\/li>\n<\/ul>\n<p>Jamie Crichton, Vice President and CFO, FTG Corporation stated \u201cThe new banking agreement with BMO Corporate Finance provides FTG with improved flexibility and reduced costs to support growth of our current operations and corporate development objectives. We look forward to working with the BMO Corporate Finance team\u201d.<\/p>\n<p>ABOUT FIRAN TECHNOLOGY GROUP CORPORATION<\/p>\n<p>FTG is an aerospace and defense electronics product and subsystem supplier to customers around the globe. FTG has two operating units:<\/p>\n<p style=\"padding-left:40px;\">FTG Circuits manufactures high-tech, high-reliability printed circuit boards. Our customers are leaders in the aviation, defense, and high-tech industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts, and a joint venture in Tianjin, China.<\/p>\n<p style=\"padding-left:40px;\">FTG Aerospace designs, certifies, manufactures and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California and Tianjin, China.<\/p>\n<p>The Corporation\u2019s shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF.<\/p>\n<p>FORWARD-LOOKING STATEMENTS<\/p>\n<p>This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, expectations regarding the potential benefits and synergies of the Transaction for FTG, delisting of the FLYHT Shares from the TSX Venture Exchange and FTG\u2019s intention to cause FLYHT to cease to be a reporting issuer. Forward-looking information typically contains words such as \u201canticipate\u201d, \u201cbelieve\u201d, \u201cexpect\u201d, \u201cplan\u201d or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation\u2019s industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than\u00a0as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n<p><strong>For further information please contact:<\/strong><\/p>\n<p>Bradley C. Bourne, President and CEO<br \/>Firan Technology Group Corporation<br \/>Tel: (416) 299-4000 x314<br \/>bradbourne@ftgcorp.com<\/p>\n<p>Jamie Crichton, Vice President and CFO<br \/>Firan Technology Group Corporation<br \/>Tel: (416) 299-4000 x264<br \/>jamiecrichton@ftgcorp.com<\/p>\n<p>Additional information can be found at the Corporation\u2019s website www.ftgcorp.com<\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>TORONTO, ONTARIO (January 29, 2025) \u2013 Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) (\u201cFTG\u201d) today announced that is has completed a new 3-year banking agreement with BMO Corporate Finance, which matures December 11, 2027, and which includes the following features: Committed revolving operating loan facility of USD $10.0M and committed revolving term credit facility [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12024],"tags":[14456,11031,13618,13617,17195],"dealstore":[],"offerexpiration":[],"class_list":["post-58025","post","type-post","status-publish","format-standard","hentry","category-aerospace","tag-agreement","tag-banking","tag-completes","tag-corporation","tag-ftg"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - 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