VANCOUVER, B.C., Sept. 16 /PRNewswire-FirstCall/ -- AMS Homecare Inc. (BULLETIN BOARD: AHCKF) today announced it has received a CDN $250,000 loan from the Business Development Bank of Canada. The loan, with net proceeds to be used for working capital purposes, is repayable at the bank’s base rate plus 750 basis points over five years.
“This funding will help us continue growing the company and pursuing our strategy of expanding into the United States,” said Harj Gill, chief executive officer. “We are gratified by BDC’s support and pleased that it exhibited confidence in our business plan by approving this loan.”
About Business Development Bank of Canada
The Business Development Bank of Canada is a financial institution wholly owned by the government of Canada. BDC plays a leadership role in delivering financial and consulting services to Canadian small business, with a particular focus on technology and exporting. BDC’s debt obligations, secured by the Government of Canada, are issued to the public and private sector institutions.
About AMS Homecare
Founded in 1989, AMS Homecare ( http://www.amshomecare.com/ ) is a successful purveyor of mobility equipment, durable and disposable medical products and patient monitoring technology that is recognized for its innovation, quality and style. With a base of 300-plus dealer customers in Canada, the company is moving forward to strengthen its foundation and to build an organization capable of serving the independence needs of the aging populations in Canada and the United States.
Statements contained in this news release relating to AMS Homecare that are not historical facts are “forward-looking” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties, including, but not limited to: the company’s ability to maintain strong relationships with its primary supplier and key dealers; the effects of competition from companies with greater resources; changes in manufacturers’ distribution channels; fluctuations in foreign currency; the level of government reimbursement for users as well as other government regulations; the company’s ability to retain key personnel; and, its ability to secure financing, notably to support its expansion into the U.S. market. These risks and uncertainties and others are enumerated in the company’s most current filed Annual and Interim Reports and could cause actual results to differ materially from those projected or implied in the forward-looking statements. Except for the company’s continuing obligation to disclose material information under federal securities law, it is not obligated to update its forward-looking statements.
AMS Homecare Inc.
CONTACT: Daryl Hixt, Corporate Communication of AMS Homecare Inc.,+1-604-273-5173 ext 121, ir@amshomecare.com ; or Karl Plath, kplath@tirc.com ,or Woody Wallace, wwallace@tirc.com , both of The Investor Relations Company,+1-847-296-4200
Web site: http://www.amshomecare.com/