Key Highlights:
- iFabric Corp. (IFABF, Financial) is set to fully acquire its Markham warehouse subsidiary.
- The acquisition is financed through a C$3.7 million mortgage from BMO.
- Revolving credit line has been increased to $12 million to support ongoing expansion.
iFabric Corp. Expands Ownership
iFabric Corp. (IFABF) is on course to purchase the remaining 25% stake in its Markham warehouse subsidiary. This strategic move underscores the company's commitment to consolidating its assets and strengthening its operational base. By moving to full ownership, iFabric Corp. aims to streamline operations and optimize its real estate holdings.
Financing Through BMO
The acquisition is being facilitated by a C$3.7 million mortgage secured from the Bank of Montreal (BMO). This financial arrangement not only showcases the company's robust creditworthiness but also its strategic partnership with a leading financial institution. It reflects iFabric Corp.'s ability to leverage financial markets to support its strategic initiatives.
Enhanced Credit Facilities for Growth
In a bid to fuel future growth and expansion, iFabric Corp. has enhanced its revolving credit facility to $12 million. This increase in available funds is a clear indicator of the company's proactive approach to capitalize on emerging opportunities. The expanded credit line will enable iFabric Corp. to explore new markets, invest in product development, and strengthen its competitive edge.
