BUFFALO, N.Y., Dec. 22 /PRNewswire-FirstCall/ -- MINRAD, Inc. announced it obtained a revolving line of credit from KeyBank National Association for the amount of $3.5 million. The proceeds of the revolving facility shall be used by MINRAD towards working capital, corporate development and to refinance existing indebtedness. The line of credit has a term of one year based on the percentage of eligible inventory and receivables.
About the Company
MINRAD International, Inc. is a leader in interventional pain management. Key product lines include anesthesia pharmaceuticals, real time image-guidance and a program to develop a conscious sedation drug/drug delivery system.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as “may,” “intend,” “might,” “will,” “should,” “could,” “would,” “expect,” “believe,” “estimate,” “anticipate,” “predict,” “project,” “potential,” or the negative of these terms, and similar expressions intended to identify forward-looking statement. Investors should not place undue reliance on the forward-looking statements contained in this news release. Each forward-looking statement speaks only as of the date on which it is made, and except as required by law, Minrad International undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. Forward-looking statements are based on assumptions and estimates and are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those identified in the forward-looking statements in this news release include changes in general economic and political conditions and currency exchange rates; market factors, including competitive pressures and changes in pricing policies; changes in interpretations of existing legislation or the adoption of new legislation; loss of major customers; the occurrence of litigation or claims; natural and manmade disasters, including acts of terrorism or war; and other factors described in the “Risk Factors” and “Cautionary Factors That May Affect Future Results” sections of Minrad International’s Form 10-KSB, filed with the Securities and Exchange Commission on March 31, 2005, which are incorporated herein by reference.
Contact: Rich Tamulski, VP Finance of MINRAD, Inc., +1-716-855-1068.
MINRAD International, Inc.
CONTACT: Rich Tamulski, VP Finance of MINRAD, Inc., +1-716-855-1068
Web site: http://www.minrad.com//
