E-Malt.com News article: 3040

Canada: Brick Brewing Co. Limited announced on August 3 it has obtained new term financing from Roynat Capital. The agreement allows the Company to use the funds to repay its existing term lender as well as to fund future capital expenditures planned later this year. "This financing will provide the Company with the funding to invest in projects that will improve efficiencies and reduce costs in our packaging operations," commented Graydon Moore, Chief Financial Officer.

Brick Brewing Co. Limited had continued to operate outside the "current ratio" covenant for its mortgages and its previous mortgage lender had waived this covenant violation until February 1, 2005. With this new term financing the Company is operating within the terms and conditions of all its lender agreements.

Brick Brewing Co. Limited was founded by Jim Brickman in 1984 and was the first craft brewery to start up in Ontario in recent decades. Brick trades on the Toronto Stock Exchange under the symbol BRB.


04 August, 2004