ENTREC’s ability to make payments and advances on any of its commitments or other liabilities is subject to the contractual restrictions contained in its asset-based lending facility (“ABL Facility”). The ABL Facility provides for a first charge security interest on substantially all of ENTREC’s assets. ENTREC is currently not in compliance with certain of its covenants under the ABL Facility including its financial covenant to maintain a minimum excess borrowing capacity of
About ENTREC
ENTREC is a heavy haul transportation and crane solutions provider to the oil and natural gas, construction, petrochemical, mining and power generation industries. ENTREC is listed on the
Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, ENTREC is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.
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