DCM Completes Sale of its Trenton, Ontario Facility for Gross Proceeds of $9.0 Million
17 Janvier 2024 - 1:00PM
Business Wire
DATA Communications Management Corp. (TSX: DCM; OTCQX: DCMDF)
(“DCM” or the “Company”), a leading provider of marketing and
business communication solutions to companies across North America,
today announced it has closed the previously announced sale and
leaseback of its Trenton, Ontario facility for gross proceeds of
$9.0 million.
Net proceeds realized on the sale of the property of
approximately $8.5 million, after deducting closing commissions,
rent deposit, and other expenses, have been applied towards the
Company’s revolving line of credit with a Canadian chartered
bank.
DCM has now completed the planned sale and leaseback of all
three owned facilities which were included in the Company’s
acquisition of Moore Canada Corporation in April 2023.
Collectively, these transactions have generated a total of $39.8
million in gross proceeds, and approximately $37.8 million in net
proceeds, which have been used to pay down acquisition-related
financing.
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. DCM serves 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 offering. 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. 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/20240117916334/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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