CMARK International Inc. and Senior Debt Holder Agree to Further Debt and Equity Restructure
02 Agosto 2012 - 9:39AM
CMARK International, Inc. (Pink Sheets:CMIT) a global provider of
facility and logistic support services for government and
commercial institutions has reached in principle a second
and substantial financial restructuring agreement with its
major senior debt holder, Trafalgar Capital Specialized Investment
Fund, Luxembourg.
The companies which have worked together since March of 2007,
have agreed in principle to a substantial restructuring of all
existing financial obligations to terms of approximately $2,500,000
of total debt as well as final conversion of any and all common
stock options from approximately $9,500,000 of options at December
31, 2012 market price, to a maximum of 50,000,000 shares within the
next 30 days.
The terms of the new remaining debt position further defers any
debt service for a to December 31, 2014 continuing to allow CMARK
the ability to concentrate its efforts on improving its current
working capital position and strengthening its future operating
platform. Trafalgar Capital is committed to the long term
success of CMARK International and this agreement shows the
confidence that they have in CMARK.
"CMARK's overall business strategy continues to include
providing a diverse but cohesive product offering of facility
design and support products, and logistical products and services
to The U.S. Federal Government, prime contractors working for the
federal government, and now a more substantial growth effort into
the private sector," says Charles W. Jones, Jr., president and CEO
of CMARK. "This very significant secondary restructure of its
financial obligations will allow the company to improve its
financial condition, substantially limit dilution, and give
the company a much better ability to seek further
refinancing."
About CMARK International, Inc.:
CMARK International, Inc. is a licensed architectural firm with
a history since June of 2000, of providing products and services
for construction and design projects for U.S. Government and
private facilities worldwide.
CMARK International, Inc. provides a wide array of facility and
logistic support services including construction, architectural
design, food service, furnishings and maintenance and operation
services with a primary focus on U.S. federal facilities. The
company operates out of its headquarters in Columbia, SC with other
field support locations in the United States, Europe, and Asia.
For more information, visit http://www.cmark.org.
Forward Looking Statements
Statements contained in this press release which are not
historical facts are known as forward-looking statements as that
item is defined in the Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934, and the
Private Securities Litigation Act of 1995. These forward-looking
statements are subject to risks and uncertainties, which could
cause actual results to differ materially from estimated results.
The forward-looking events and circumstances discussed in this
press release might not occur, and actual results could differ
materially from those anticipated or implied in the forward-looking
statements.
CONTACT: CMARK International, Inc.
Jamey Smith, Trinity Media Group Inc.
386-259-4054
Cmark (CE) (USOTC:CMIT)
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