Company Website: https://accordfinancial.com/
TORONTO -- (Business Wire)

Accord Financial Corp. (“Accord” or the “Company”) (TSX – ACD) today announced a short-term extension of its main credit facility (the “Bank Facility”) from October 31, 2026 to November 30, 2026. Along with the extension, the total commitment has been reduced from $70 million to $65 million. This extension will allow the Company more time to continue discussions relating to a refinancing which is part of the Company’s previously announced efforts to restructure its balance sheet, which efforts have included implementing amendments to the Company’s outstanding debentures and unsecured demand and term notes held by certain noteholders. There can be no assurance that the Bank Facility will be successfully refinanced or further extensions to the Bank Facility will be made.

About Accord Financial Corp.

Accord Financial is one of Canada's most dynamic commercial finance companies providing fast, versatile financing solutions including asset-based lending, factoring, inventory finance, equipment finance, and working capital loans. By leveraging our unique combination of deep experience and independent thinking, we craft winning financial solutions for small and medium-sized businesses, simply delivered, so our clients can thrive.

Forward-Looking Statements

This news release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management's beliefs, expectations or intentions regarding the financial position of the Company and the ability of the Company to repay or refinance its outstanding debt obligations. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties including the Company's overall liquidity and capital resource position and its ability to repay its Bank Facility on its maturity date and its other debt obligations when due and those risks identified in the Accord's periodic filings with Canadian securities regulators. If any or all of the Company's outstanding debt obligations (including its Bank Facility) are not renewed or replaced upon expiration of their terms, and if the Company is unsuccessful in its ability to implement additional alternative financing arrangements to repay same on terms acceptable to the Company, or at all, the Company may not be able to continue to finance its operations and operate as a going concern. See Accord's most recent annual information form and most recent management's discussion and analysis of results of operations and financial condition for a detailed discussion of the risk factors affecting Accord. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261002448124/en/

Contacts:

For further information, please visit www.accordfinancial.com or contact:

Irene Eddy
Senior Vice President, Chief Financial Officer
Accord Financial Corp.
602 - 40 Eglinton Avenue East
Toronto, ON M4P 3A2
(416) 961-0304
ieddy@accordfinancial.com

Source: Accord Financial Corp.