/PRNewswire/ - Avcorp Industries Inc. (TSX: AVP) (the "Company", "Avcorp" or the "Avcorp Group") today announced its financial results for the quarter ended.
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VANCOUVER, BC, April 22, 2021 /PRNewswire/ -
Avcorp Industries Inc. (TSX: AVP) (the Company or Avcorp ) is providing today guidance with respect to its upcoming interim financial results as well as certain financial information pertaining to the anticipated long term business activity, operations and anticipated results. The guidance and forward-looking financial information contained herein is based on the reasonable belief of management, subject to the risks and cautionary statements outlined below under the heading Forward Looking Statements . The guidance provided herein has been approved by the board of directors on April 22
nd, 2021.
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The onset of the global pandemic has significantly impacted the demand for travel as the various governments announced restrictions to curb the COVID-19 virus and variant progression. The 737 MAX grounding had also caused significant drop in revenue for the Company s Boeing programs in the proceedi
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Avcorp Announces Accommodation Agreement with Significant Shareholder and a Customer
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VANCOUVER, BC, March 15, 2021 /PRNewswire/ - Avcorp Industries Inc. (TSX: AVP) (the Company or Avcorp ) is pleased to announce today that it has entered into a multi-party Accommodation Agreement with each of a significant shareholder and one of our customers (the Agreement ) whereby, inter alia:
The shareholder has agreed to provide a new non revolving standby loan facility and capital equipment loan to the Company for up to $13 million USD combined; and
The elimination of unamortized cash advances and forgiveness of certain historic and future guarantee fees payable to the customer totalling in aggregate approximately $11 million USD.