Langley, BC / ACCESSWIRE / November 27, 2014 / Iplayco Corporation Limited (TSX VENTURE: IPC) ("Iplayco" or the "Corporation") announces today that it has extinguished its subordinate debt of $734,036 Canadian dollars, including interest and fees. The subordinate debt bore interest at a rate of 12% per annum, in addition to royalty payments of 2.00% of the Corporation's consolidated earnings before interest, income taxes and depreciation expense ("EBITDA") to a maximum of $1,000,000, and 1.00% of EBITDA greater than $1,000,000. The subordinate debt had a maturity date of April 15, 2017.
About Iplayco Corporation Limited
Iplayco is a global leader in the design, manufacturing and installation of premium-quality, fun, safe and durable play structures for children. In its 15-year history, Iplayco has sold over 2,600 play structures to over 50 countries worldwide. Iplayco is very proud to have built the world's largest children's indoor soft-play park for Billy Beez, a family entertainment centre of 2,316.79 square meters (24,937.72 square feet) inaugurated on 25 May 2013 in the Mall of Dhahran, Al Khobar, Saudi Arabia. Iplayco also owns and operates a family entertainment centre ("The Great Escape") in Langley, British Columbia. For more information, please visit www.iplaycoltd.com.
For more information, please contact:
Iplayco Corporation Limited
Max Liszkowski
Chief Financial Officer and Corporate Secretary
(604) 607-1111
[email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Iplayco Corporation Ltd. was recognized as a TSX Venture 50 company in 2014. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.
Source: Iplayco Corporation