DENVER, April 20, 2020 (GLOBE NEWSWIRE) — Guarantee Holdings Corp. (the “Firm” or “Guarantee”) (TSXV: IOM; OTCQB: ARHH), a supplier of intraoperative neuromonitoring companies (“IONM”), introduced right now that it has obtained a mortgage (“Mortgage”) below the USA Small Enterprise Administration (“SBA”) Paycheck Safety Program (“PPP”) pursuant to the just lately adopted Coronavirus Help, Reduction, and Financial Safety Act.
Guarantee has obtained a $1,210,700 unsecured PPP Mortgage. The 2-year, SBA-administered PPP mortgage has an rate of interest of 1.0% each year, with principal and curiosity funds due on the primary day of every month, with funds commencing on December 1, 2020. All or a portion of the Mortgage could also be forgiven if the Firm maintains its employment and compensation inside sure parameters throughout the eight-week interval following the mortgage origination date and the proceeds of the Mortgage are spent on payroll prices, hire or lease agreements dated earlier than February 15, 2020 and utility funds arising below service agreements dated earlier than February 15, 2020.
As well as, Guarantee has utilized to take part in different packages created for companies by the U.S. federal authorities in response to the COVID-19 pandemic.
“We’re grateful to the SBA and the united statesfederal authorities for creating this help in response to the unprecedented challenges pushed by the COVID-19 pandemic,” mentioned John A. Farlinger, Guarantee’s govt chairman and CEO. “Because the Firm adapts and prospers once more, we wish to defend our proficient crew and make the most of the substantial development and growth alternatives that can emerge within the IONM trade after COVID-19 recedes.”
As a U.S. Small Enterprise, Guarantee qualifies for the PPP which permits companies and nonprofits with fewer than 500 staff to acquire loans of as much as $10 million to incentivize firms to take care of their employees as they handle the enterprise disruptions brought on by the COVID-19 pandemic.
About Guarantee Holdings
Guarantee Holdings Corp. is a Colorado-based firm that works with neurosurgeons and orthopedic backbone surgeons to supply a turnkey suite of companies that help intraoperative neuromonitoring actions throughout invasive surgical procedures. Guarantee employs its personal employees of technologists and makes use of its personal state-of-the-art monitoring tools, handles 100% of intraoperative neuromonitoring scheduling and setup, and payments for all technical companies supplied. Guarantee Neuromonitoring is acknowledged as offering the very best stage of affected person care within the trade and has earned the Joint Fee’s Gold Seal of Approval®. For extra info, go to the corporate’s web site at www.assureneuromonitoring.com.
This information launch could include “forward-looking statements” inside the that means of relevant securities legal guidelines, together with, however not restricted to, Guarantee’s capacity to make the principal and curiosity funds on the Mortgage as they arrive due, any portion of the principal and curiosity accrued below the Mortgage being forgiven, that Guarantee will make the most of development and growth alternatives after COVID-19 recedes, and that Guarantee could possibly take part in different packages created to supply reduction from the results of COVID-19. Ahead-looking statements could usually be recognized by means of the phrases “anticipates,” “expects,” “intends,” “plans,” “ought to,” “may,” “would,” “could,” “will,” “believes,” “estimates,” “potential,” “goal,” or “proceed” and variations or related expressions. These statements are based mostly upon the present expectations and beliefs of administration and are topic to sure dangers and uncertainties that might trigger precise outcomes to vary materially from these described within the forward-looking statements. These dangers and uncertainties embrace, however will not be restricted to, whether or not Guarantee will be capable of make funds below the Mortgage as they arrive due, whether or not any portion of the Mortgage shall be forgiven, whether or not any development or growth alternatives will come up, Guarantee’s capacity to qualify for added COVID-19 reduction packages, the uncertainty surrounding the unfold of COVID-19 and the affect it would have on the Firm’s operations and financial exercise generally, and the dangers and uncertainties mentioned in our most up-to-date annual and quarterly stories filed with the Canadian securities regulators and obtainable on the Firm’s profile on SEDAR at www.sedar.com, which dangers and uncertainties are included herein by reference. Readers are cautioned to not place undue reliance on forward-looking statements. Besides as required by legislation, Guarantee doesn’t intend, and undertakes no obligation, to replace any forward-looking statements to replicate, particularly, new info or future occasions.
Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
Scott Kozak, Investor and Media Relations
Guarantee Holdings Corp.