WesternOne Inc. Announces Completion of the New Three-Year $35 Million Asset-Based Revolving Credit Facility

WesternOne Inc. Announces Completion of the New Three-Year $35 Million Asset-Based Revolving Credit Facility

Canada NewsWire

VANCOUVER, Nov. 21, 2017 /CNW/ – WesternOne Inc. (“WesternOne“) (Toronto Stock Exchange: WEQ and WEQ.DB) today announced that it has completed the closing of the new three-year $35 million secured asset-based revolving credit facility (the “ABL Facility“) with Canadian Imperial Bank of Commerce (“CIBC“), as previously announced on November 13, 2017.

In conjunction with the closing, WesternOne drew funds under the ABL Facility to fully repay the outstanding balance of the previous $20 million demand facility. At closing, WesternOne’s senior bank indebtedness, net of cash on hand, was $7.0 million.

Additional information relating to the ABL Facility is available on SEDAR at www.sedar.com or on WesternOne’s website at www.weq.ca.

About WesternOne

WesternOne Inc. seeks to acquire and grow businesses in the construction and infrastructure services sectors in Western Canada. Its primary business platform, WesternOne Infrastructure Services, is a leading provider of construction heat services and aerial equipment rentals to businesses in the construction, infrastructure, film and television industries in Western Canada.

Additional Information

Additional information relating to WesternOne and other public filings, is available on SEDAR at www.sedar.com or on WesternOne’s website at www.weq.ca.

Trading Symbols
Toronto Stock Exchange: WEQ and WEQ.DB

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

SOURCE WesternOne Inc.

View original content: http://www.newswire.ca/en/releases/archive/November2017/21/c8320.html

NFI Breaks Ground for Chelten House Facility in Logan Township

Cherry Hill, NJ (PRWEB) November 21, 2017

Leading supply chain solutions provider, NFI, will break ground Tuesday for a build-to-suit facility for leading premium food manufacturer and distributor, Chelten House, in Logan Township, New Jersey. NFI is developing the 209,437 square foot facility where Chelten House will establish its new corporate office and industrial operations facility with future expansion opportunities that could bring the facility to over 400,000 square feet.

“NFI is excited to team up with Chelten House to provide a unique, world-class facility here in South Jersey,” says Jeff Brown, NFI Vice Chairman and President. “As an end-to-end supply chain solutions provider we understand the unique needs of our customers like Chelten House and utilize our expertise to build a facility to meet both their current and future needs.”

The strategic location of the new facility in Logan Township, New Jersey places Chelten House along a corridor to major highways with easy access to the New Jersey Turnpike, Route 295, Interstate 95, and the Pennsylvania Turnpike. The facility is also unique with development plans including a rail loading dock to ensure the seamless transfer of goods across multiple modes of transportation.

“All of us here at Chelten House are eager to expand our strong roots in South Jersey,” said Steve Dabrow, Chelten House Owner and CEO. “We look forward to working with NFI on this project and further strengthening our partnership as we continue to grow.”

NFI’s real estate group provides services in construction, development, property management, and leasing. Family owned and operated since 1932, NFI utilizes a full suite of supply chain solutions including distribution and warehousing, dedicated transportation, port drayage, brokerage, transportation management, intermodal, global logistics, and real estate. NFI continues to grow with 41.5 million square feet of warehousing and nearly 10,000 employees.

The architect for the Chelten House project is Bernardon and the general contractor is Arco Design/Build NE. The first phase of the project is expected to be completed September 2018.

Download the NFI Chelten House Media Kit.

ABOUT NFI

NFI is a fully integrated supply chain solutions provider headquartered in Cherry Hill, N.J. Privately held by the Brown family since its inception in 1932, NFI generates more than $1.2 billion in annual revenue and employs more than 8,000 associates. NFI owns facilities globally and operates 29.5 million square feet of warehouse and distribution space. Its company-owned fleet consists of over 2,000 tractors and 8,200 trailers, operated by more than 2,600 company drivers and 250 owner operators. Its business lines include dedicated transportation, warehousing, intermodal, brokerage, transportation management, global, and real estate services. For more information about NFI, visit http://www.nfiindustries.com or call 1-877-NFI-3777.

ABOUT CHELTEN HOUSE

Now in its fourth generation as a family run business, Chelten House Products has been a leader in the premium food manufacturing and distribution industry for more than 70 years. A pioneer in the organic market, Chelten House has been an award-winning leader in organic products for more than 25 years. With an emphasis on premium quality and innovative flavors, Chelten House has developed thousands of products for the nation’s largest retailers and co-manufacturing partners. With 10 full-scale production lines between our New Jersey and Las Vegas facilities and more than 400,000 square feet of manufacturing and distribution space, Chelten House can deliver the highest quality products, on a large scale, throughout the United States.

Read the full story at http://www.prweb.com/releases/2017/11/prweb14946834.htm

NYS housing market sets October sales record

ALBANY, N.Y., Nov. 21, 2017 (GLOBE NEWSWIRE) — There were 12,178 closed home sales across New York State during October, setting a new record high for the month, according to the housing market report released today by the New York State Association of REALTORS®. The previous October sales record was 11,926 in October 2015. The statewide median sales price grew by 9.1 percent in October compared to October 2016.

“In October and throughout 2017 strong homebuyer demand and low inventory combined to drive sales prices higher,” said Duncan R. MacKenzie, CEO of the New York State Association of REALTORS®. “Many newly listed homes are selling quickly as evidenced by a nearly 13-percent drop in the number of days homes are on the market.”

“Given the current market trends, including the October growth in both listed homes and pending sales, we project that 2017 home sales could finish slightly ahead of last year’s record total and that the median sales price growth will be 5 to 5.5 percent above 2016.”

The October 2017 sales total of 12,178 represents an increase of 3.7 percent from the October 2016 total of 11,741. The year-to-date (Jan. 1 – Oct. 31) sales total of 111,072 was 2.5-percent above the same period last year.

The October 2017 statewide median sales price was $249,900, an increase of 9.1 percent from the October 2016 median of $229,000. The year-to-date (Jan. 1 – Oct. 31) statewide median sales price was $250,000, an increase of 6.2 percent from the same period in 2016.

October 2017 pending sales increased by 10.4 percent from a year ago to reach 11,823.

The months supply of homes for sale dropped 9 percent at the end of October to 6.1 months supply. It was at 6.7 months at the end of October 2016. A 6 month to 6.5 month supply is considered to be a balanced market. The number of homes for sale stood at 69,321 in October, a decrease of 6.6 percent compared to October 2016.

Additional data is available at http://www.nysar.com/industry-resources/market-data

Editor’s Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums and existing single-family homes.

The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 55,000 of New York State’s real estate professionals. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®. These REALTORS® are also members of the New York State Association of REALTORS® as well as their local board or association of REALTORS®.

Salvatore I. Prividera Jr.
Director of Communications
518-463-0300×208 office
sprividera@nysar.com