Xplore Technologies Expands Credit Facility with Bank of America
$20 Million Facility Positions Xplore for Continued Growth
AUSTIN, Texas, Jan. 26, 2018 (GLOBE NEWSWIRE) -- Xplore Technologies (Nasdaq:XPLR), the provider of rugged tablet PCs, today announced that it has entered into an amendment to its secured line of credit with Bank of America increasing the maximum revolver amount to $20 million. The original facility was entered into in April 2017 for $15 million. Additionally, the facility has been extended to January 2021.
“We are pleased to expand our relationship with Bank of America as Xplore’s business continues to grow,” said Tom Wilkinson, Chief Executive Officer of Xplore Technologies. “Over the past year, our relationship with Bank of America has allowed us to improve working capital efficiency and streamline our balance sheet, as well as better serve our growing base of international customers.”
The facility includes features which assess certain inventory holdings as well as accounts receivable, in line with Xplore’s typical business needs.
About Xplore Technologies
Xplore is The Rugged Tablet Authority™, exclusively manufacturing powerful, long-lasting, and customer-defined rugged tablet PCs since 1996. Today, Xplore offers the broadest portfolio of genuinely rugged tablets – and the most complete lineup of rugged tablet accessories – on Earth. Its mobility solutions are purpose-built for the energy, utilities, telecommunications, military and defense, manufacturing, distribution, public safety, healthcare, government, and field service sectors. The company’s award-winning military-grade computers are also among the most powerful and longest lasting in their class, built to withstand nearly any hazardous condition or environmental extreme for years without fail. Visit www.xploretech.com for more information on how Xplore and its global channel partners engineer complete mobility solutions to meet specialized workflow demands. Follow us on Twitter, Facebook, LinkedIn, and YouTube.
Forward Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect Xplore’s current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made including those factors detailed from time to time in filings made by Xplore with securities regulatory authorities. 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 herein as intended, planned, anticipated or expected. Xplore does not intend and does not assume any obligation to update these forward-looking statements.
Contact Information:
Matt Kreps, Darrow Associates Investor Relations
(214) 597-8200
mkreps@darrowir.com
Tom Wilkinson
Chief Executive Officer
(512) 637-1162
