DATA Communications Management Corp. Completes Sale and Leaseback of its Oshawa, Ontario Warehouse Facility for Gross Proceeds of $24.1 Million
08 Juin 2023 - 9:25PM
Business Wire
DATA Communications Management Corp. (TSX: DCM; OTCQX:
DCMDF)(“DCM” or the “Company”), a leading provider of marketing and
business communication solutions, today announced it has closed the
previously announced sale and leaseback of its Oshawa, Ontario
warehouse facility, which was acquired as part of the Company’s
acquisition of Moore Canada Corporation (“MCC”).
Gross proceeds realized on the sale were $24.1 million, and,
after deducting closing commissions, rent deposit, and other
expenses, net proceeds of $23.1 million have been applied towards
the $30 million balance outstanding on the Company’s term loan with
a Canadian chartered bank. The term loan had been entered into in
connection with financing of the MCC acquisition.
DCM intends to use the Oshawa facility as a primary warehousing
site to serve its clients in eastern Canada. In connection with the
sale transaction, the Company entered into a ten year lease of the
facility. Under the terms of the lease, the Company has two options
to extend the term of the lease, each in five year increments, for
a total additional term of up to ten years. The terms of the lease
also include a capital improvement allowance of $1.5 million to be
applied towards certain identified building maintenance and
repairs.
ABOUT DATA COMMUNICATIONS MANAGEMENT CORP.
DCM is a marketing and business communications partner that
helps companies simplify the complex ways they communicate and
operate, so they can accomplish more with fewer steps and less
effort. For more than 60 years, DCM has been serving major brands
in vertical markets including financial services, retail,
healthcare, energy, other regulated industries, and the public
sector. We integrate seamlessly into our clients’ businesses thanks
to our deep understanding of their needs, transformative
tech-enabled solutions, and end-to-end service offerings. Whether
we’re running technology platforms, sending marketing messages, or
managing print workflows, our goal is to make everything
surprisingly simple.
Additional information relating to DATA Communications
Management Corp. is available on www.datacm.com, and in the
disclosure documents filed by DATA Communications Management Corp.
on the System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release constitute “forward
looking” statements that involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance, objectives or achievements of DCM, or industry
results, to be materially different from any future results,
performance, objectives or achievements expressed or implied by
such forward-looking statements. When used in this press release,
words such as “may”, “would”, “could”, “will”, “expect”,
“anticipate”, “estimate”, “believe”, “intend”, “plan”, and other
similar expressions are intended to identify forward-looking
statements. These statements reflect DCM’s current views regarding
future events and operating performance, are based on information
currently available to DCM, and speak only as of the date of this
press release.
These forward-looking statements involve a number of risks,
uncertainties and assumptions and should not be read as guarantees
that future performance or results will be achieved. Many factors
could cause the actual results, performance, objectives or
achievements of DCM to be materially different from any future
results, performance, objectives or achievements that may be
expressed or implied by such forward-looking statements. Additional
factors are discussed under the headings “Liquidity and capital
resources” and “Risks and Uncertainties” in DCM’s management’s
discussion and analysis, annual information form, and other
publicly available disclosure documents, as filed by DCM on SEDAR
(www.sedar.com).
Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking statements
prove incorrect, actual results may vary materially from those
described in this presentation as intended, planned, anticipated,
believed, estimated or expected. Unless required by applicable
securities law, DCM does not intend and does not assume any
obligation to update these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230608005737/en/
Mr. Richard Kellam President & Chief Executive Officer DATA
Communications Management Corp. (905) 791-3151 Mr. James E. Lorimer
Chief Financial Officer DATA Communications Management Corp. (905)
791-3151 ir@datacm.com
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