
CMARK International Inc. and Senior Debt Holder Complete Financial Restructuring
COLUMBIA, S.C., Dec. 28, 2011 /PRNewswire/ -- CMARK International, Inc. (OTC Pink Sheets: CMIT) a global provider of facility and logistic support services for government and commercial institutions has completed a comprehensive financial restructuring agreement with its senior debt holder, Trafalgar Capital Specialized Investment Fund, Luxembourg.
The companies, which have worked together since March of 2007, have restructured $11,563,000 of total debt that includes conversion of $9,563,000 to equity and the balance to a more manageable remaining senior debt of $2,000,000.
The terms of the new remaining debt position defer any debt service for a minimum of 12 months, allowing CMARK the ability to concentrate its efforts on improving its current working capital position and strengthening its operating platform. Trafalgar Capital is still very committed to the long term success of CMARK International and this agreement shows the confidence that they have in the company.
"CMARK's overall business strategy is changing somewhat. We will still provide a diverse but cohesive product offering of facility design and support products, as well as logistical products and services, but will give more focus to the private sector of the marketplace than we have in the past.
"We will give more significant attention and resources to product development, and specifically to alternative energy applications to these facilities. We will also work with affiliated and subsidiary companies which we have a significant interest in, as well as contractual relationships with new companies, to utilize the 10 plus years of product and customer development in The U.S. Federal Government marketplace ," says Charles W. Jones, Jr., president and CEO of CMARK. "This restructure of its financial obligations will now allow the company to improve its financial condition and allow regain the necessary momentum to grow in the marketplace ."
About CMARK International, Inc.:
CMARK International is a licensed architectural firm with a history of construction and design projects for U.S. government facilities throughout the United States.
CMARK International provides a wide array of facility and logistic support services including construction, architectural design, food service, furnishings and maintenance and operation services with a primary focus on U.S. federal facilities. The company operates out of its headquarters in Columbia SC, with other field support locations in the United States Europe and Asia.
For more information, visit http://www.cmark.org.
Forward Looking Statements
Statements contained in this press release which are not historical facts are known as forward-looking statements as that item is defined in the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Act of 1995. These forward- looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from estimated results. The forward- looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
CONTACT:
Melanie Lauramore
803-699-4940
SOURCE CMARK International, Inc.
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