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Turbo Power Systems Inc.: Amended Loan Agreement |
February 25, 2011
LONDON, UNITED KINGDOM--(Marketwire - Feb. 25, 2011) - TPS (TSX:TPS)(AIM:TPS), the innovative electrical machines and electronic systems provider, announces that further to its announcement of 25 October 2010, its wholly owned UK subsidiary, Turbo Power Systems Limited, has today entered into an amended loan agreement with TAO Sustainable Power Solutions (UK) Limited ("Tao") (the "Loan Agreement") under which it is now able to drawdown up to £ 2.7 million (including the £1.9 million stated in the announcement of 25 October 2010) to fund and facilitate the further growth of the business. The requirement to extend the facility has arisen due to delays to anticipated orders. However, the outlook for future orders remains encouraging.
http://www.marketwire.com/mw/release.do?id=1401871&sourceType=3
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