Calgary, Alberta--(Newsfile Corp. - January 31, 2022) - Sylogist Ltd. (TSX: SYZ) ("Sylogist" or the "Company"), a leading public sector SaaS company, is pleased to announce that it has entered into an agreement with its current banking institution to expand its existing credit facility from $75 million (CDN) to $125 million (CDN), on improved terms. Funding acquisitions remains the primary purpose of the credit facility, of which approximately $100 million (CDN) remains available. The facility is committed for a two-year term and renewable annually thereafter.
Bill Wood, Sylogist's President and CEO, stated: "We are grateful for our lender's confidence in our business and their partnership as we grow. This expanded credit facility will help us to further our aggressive M&A growth strategy."
About Sylogist
Sylogist is a public sector SaaS company that provides comprehensive enterprise resource planning (ERP), constituent relationship management (CRM), fundraising, education administration, and payments solutions that allow its customers to carry out their missions. It serves over 1,950 customers globally, including all levels of government, non-profit and non-governmental organizations, educational institutions, and public compliance-driven and funded companies. The Company has industry-leading profitability, an exceptionally strong balance sheet, a track record of successful acquisitions, and a portfolio of mission-critical SaaS solutions. Full financial statements together with Management's Discussion and Analysis are available on SEDAR at www.sedar.com. The Company's stock is traded on the Toronto Stock Exchange under the symbol SYZ. Information about Sylogist can be found at www.sylogist.com.
Forward-Looking Statements
For further investor information, contact:
Rudy Shirra, Manager, Corporate Development and Investor Relations
Sylogist Ltd.
(403) 266-4808
ir@sylogist.com
