SALTIRE CAPITAL LTD. ANNOUNCES CLOSING OF CREDIT FACILITY

TORONTO, Nov. 20, 2024 /CNW/ - Saltire Capital Ltd. (formerly FG Acquisition Corp.) ("Saltire" or the "Company") (TSX: SLT.U) (TSX: SLT.WT.U) is pleased to announce that it has entered into a credit agreement (the "Credit Agreement") with National Bank of Canada ("NBC"), pursuant to which NBC has agreed to provide Saltire with a revolving credit facility in the amounts and on the terms and conditions outlined below (the "Credit Facility"). The Credit Facility provides Saltire with borrowing capacity of up to US$12 million (with an additional US$3 million accordion feature), which will provide Saltire with further flexibility as it continues to pursue its growth strategy. In particular, the Credit Facility is expected to support Saltire's ability to capitalize on acquisition opportunities as they arise, and also for general corporate and working capital purposes, while maintaining a prudent approach to leverage.

Selected highlights regarding the Credit Facility include:

• NBC will provide Saltire with up to US$12 million of credit (the "Credit Limit");
• provided no default has occurred and is continuing under the Credit Agreement, Saltire may request an increase to the Credit Limit in an amount up to US$3 million;
• the Credit Facility is available on a revolving basis and may be drawn in CAD and/or USD; and
• the Credit Facility will mature on the third anniversary of the Credit Agreement

The Company's obligations under the Credit Agreement are secured by a guarantee provided by its wholly-owned subsidiary, Strong/MDI Screen Systems, Inc. ("MDI") and first-ranking liens against Saltire's and MDI's present and future property.

"We are pleased to partner with National Bank of Canada as our lender, and we look forward to continuing to cultivate this relationship as we execute on our strategy. I am confident that this transaction will enhance our success as we continue to grow our business," said Andrew Clark, CEO of Saltire.

A copy of the Credit Agreement will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval Plus ("SEDAR+") and will be available for viewing on Saltire's SEDAR+ profile at www.sedarplus.ca.

About Saltire Capital Ltd.

Saltire is a long-term capital partner that allocates capital to equity, debt and/or hybrid securities of high-quality private companies. Investments made by Saltire consist of meaningful and influential stakes in carefully selected private companies that the Manager believes are under-valued businesses with the potential to significantly improve fundamental value over the long-term. These businesses will generally have high barriers to entry, predictable revenue streams and cash flows and defensive characteristics. Although Saltire primarily allocates capital to private companies, Saltire may, in certain circumstances if the opportunity arises, also pursue opportunities with orphaned or value challenged small and micro-cap public companies. Saltire provides investors with access to private and control-level investments typically reserved for larger players, while maintaining liquidity.

Forward Looking Information

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Saltire. All statements included herein, other than statements of historical fact, may be considered forward-looking information and such information involves various risks and uncertainties, including those described under the heading "Risk Factors" in Saltire's final long-form prospectus dated August 2, 2024, which is available for viewing on Saltire's SEDAR+ profile at www.sedarplus.ca. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, Saltire does not assume any obligation to update or revise them to reflect new events of circumstances.

www.saltirecapitalltd.com 

SOURCE Saltire Capital Ltd.