FOR IMMEDIATE RELEASE
Gatekeeper Secures $1.5 Million USD Non-Dilutive Credit Facility
Abbotsford, BCMay 10th, 2016 – Gatekeeper Systems Inc. (“Gatekeeper” or the “Company”) (TSX.V: GSI; OTC: GKPRF; FSE: 1GK) is pleased to announce that it has entered into a non-dilutive revolving secured line of credit of up to USD$1,500,000.
Funds will be available to the Company under the facility pursuant to an availability formula based on eligible receivables and inventory. The facility has an initial three-year term and is secured by a first charge on the assets of the Company and its subsidiaries. The Company expects to use the proceeds from the facility for inventory purchases and general working capital.
Doug Dyment, President and CEO of Gatekeeper stated, “Our goal is to deliver profitability quarter to quarter which is opening new non-dilutive financing opportunities to support cash flow during periods where sales spike. Recent business activity has resulted in purchase orders driving an increase in the Company’s backlog. This new credit facility will assist us to execute on our plan as sales increase.”
About Gatekeeper Systems Inc.
A TSX-V Company since 2013, Gatekeeper Systems Inc. has provided total mobile video security solutions to over 3,500 customers and has installations in every state and province in North America. Customers include school districts, public transit, law enforcement and military.
For more information visit: www.gatekeeper-systems.com.
On behalf of the Board,
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
2016-05-10 -NR – Gatekeeper Secures $1.5 Million USD Non-Dilutive Credit Facility