FYI all
FOR: ACCUGRAPH CORPORATION
NASDAQ SYMBOL: ACCUF
TSE SYMBOL: ACU.A
FEBRUARY 11, 1998
Accugraph Secures $3 Million Line Of Credit; Company
Signs Agreement with Greyrock Business Credit
RICHARDSON, TEXAS--Accugraph Corporation a leader in Network
Inventory and Provisioning solutions, today announced that it has
obtained a $3 million, receivables-based line of credit through
Greyrock Business Credit, a unit of NationsBank specializing in
loans to technology and venture-stage companies.
Available immediately, the line of credit will be used as needed
for short-term working capital.
"We are pleased to be working with Greyrock," said Gary Shroyer,
vice president, finance and administration and chief financial
officer. "They understand the peaks and valleys of the technology
business and have developed a plan that works well for Accugraph."
About Greyrock
Greyrock Business Credit, a unit of NationsBank, specializes in
providing financing for technology and venture stage companies
backed by institutional sources. Greyrock evaluates a company's
complete picture, focusing on ownership and enterprise value.
Loans are structured by Greyrock to maximize flexibility for
companies engaged in the rapidly paced technology market. Further
information is available through Greyrock's web site at:
www.greybuscred.com or by calling 800/988-4113.
About Accugraph
Accugraph Corporation is a leader in Network Inventory &
Provisioning products and services. Accugraph's customers include
wireless providers, local and long distance carriers, Internet
service providers and major corporations in the banking and
travel/transportation industries. With new corporate offices in
Richardson, Texas and Toronto, Canada; as well as established
offices in El Paso, Texas and Huntsville, Alabama; Accugraph is a
global supplier to the telecommunications and enterprise markets.
Accugraph is publicly traded on the NASDAQ national market (ACCUF)
and the Toronto Stock Exchange (ACU.A). Further information is
available through Accugraph's web site at:
accugraph.com.
This news release may contain forward-looking statements relating
to the future performance of Accugraph Corporation. The
forward-looking information is within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, and is subject to the safe harbor created by
those sections. These forward-looking statements are subject to
certain risks and uncertainties, and actual results may differ
materially. Certain of these risks and uncertainties are described
in the company's filings with the Securities and Exchange
Commission including the company's annual report on Form 10-K for
the year ending December 31, 1996 and subsequent Forms 10-Q. |
