COLUMBIA, S.C., Dec. 28, 2011 /PRNewswire/ -- CMARK
International, Inc. (OTC Pink Sheets: CMIT) a global provider
of facility and logistic support services for government and
commercial institutions has completed a comprehensive
financial restructuring agreement with its senior debt
holder, Trafalgar Capital Specialized Investment Fund, Luxembourg.
The companies, which have worked together since March of 2007,
have restructured $11,563,000 of total debt that includes
conversion of $9,563,000 to equity
and the balance to a more manageable remaining senior
debt of $2,000,000.
The terms of the new remaining debt position defer any debt
service for a minimum of 12 months, allowing CMARK the
ability to concentrate its efforts on improving its current working
capital position and strengthening its operating platform.
Trafalgar Capital is still very committed to the
long term success of CMARK International and this agreement shows
the confidence that they have in the company.
"CMARK's overall business strategy is changing somewhat.
We will still provide a diverse but cohesive product offering
of facility design and support products, as well as
logistical products and services, but will give more focus to
the private sector of the marketplace than we
have in the past.
"We will give more significant attention and resources
to product development, and specifically to
alternative energy applications to these facilities. We will
also work with affiliated and subsidiary
companies which we have a significant interest in, as
well as contractual relationships with new companies, to
utilize the 10 plus years of product and customer development
in The U.S. Federal Government marketplace ," says
Charles W. Jones, Jr., president and
CEO of CMARK. "This restructure of its financial
obligations will now allow the company to improve its financial
condition and allow regain the necessary momentum to grow in the
marketplace ."
About CMARK International, Inc.:
CMARK International is a licensed architectural firm with a
history of construction and design projects for U.S. government
facilities throughout the United
States.
CMARK International 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:
Melanie Lauramore
803-699-4940
SOURCE CMARK International, Inc.
