By Sheri Kasprzak
New York, July 12 - Epic Data International Inc. said it will receive up to C$1 million from a loan offering with BCI Holdings Inc.
The company may draw upon the 7% loan for up to two years.
BCI also received warrants for up to 250,000 shares, exercisable at C$1.25 each.
The proceeds will be used for working capital.
Epic Data also announced that it is currently finalizing terms on an C$800,000 non-revolving credit facility with The Bank of Nova Scotia.
That loan bears interest at 7.5% annually, maturing in March 2006.
The Bank of Nova Scotia offering is expected to close July 14.
Based in Richmond, B.C., Epic Data produces automatic identification and data-collection technologies.
| Issuer: | Epic Data International Inc.
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| Issue: | Loan
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| Amount: | C$1 million (maximum)
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| Term: | Two years
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| Coupon: | 7%
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| Price: | Par
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| Yield: | 7%
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| Warrants: | For up to 250,000 shares
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| Warrant strike price: | C$1.25
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| Investor: | BCI Holdings Inc.
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| Announcement date: | July 12
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| Stock price: | C$1.14 at close July 12
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