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prnewswire

Halifax Increased Its Line of Credit to $3 Million

  • Press Release
  • Source: Halifax Corporation of Virginia
  • On 3:00 pm EDT, Monday August 31, 2009

ALEXANDRIA, Va., Aug. 31 /PRNewswire-FirstCall/ -- Halifax Corporation of Virginia (NYSE Amex: HX) today announced that it has increased its existing one year line of credit from $1.5 to $3.0 million with Sonabank. Full details regarding the terms of the financing arrangement are included in the Company's Current Report on Form 8-K to be filed with the SEC on August 31, 2009.

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HX1.430.00
Chart for HALIFAX CP
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Charles McNew, President and Chief Executive Officer, stated, "We are pleased to have Sonabank as our primary lender. They have worked diligently on our behalf to finalize our increased line. This should ensure proper financing levels for the coming year and will enable us to accommodate our plans for growth as we implement our supply chain services strategy going forward."

Founded in 1967, Halifax Corporation is an enterprise logistics and maintenance solutions company providing a wide range of technology services to commercial and government customers throughout the United States. The Company's principal products are enterprise logistics solutions and high availability hardware maintenance services. More information on Halifax can be found at www.hxcorp.com.

Certain statements made by the Company which are not historical facts may be considered forward-looking statements, including, without limitation, statements as to trends, management's beliefs, views, expectations and opinions, which are based upon a number of assumptions concerning future conditions that ultimately may prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors described in the Risk Factors Section in the Company's Annual Report on Form 10-K that may cause actual results to differ materially from those in the forward-looking statements. For further information that could affect the Company's financial statements, please refer to the Company's reports filed with the Securities and Exchange Commission.

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