Cervus Equipment Corp. has entered into an amended and extended revolving credit facility with its existing syndicate of underwriters led by The Toronto-Dominion Bank and including Canadian Imperial Bank of Commerce and Wells Fargo.  The principal amount available remains at $100 million under the extended Facility, effective December 21, 2015, with an $80 million accordion which Cervus may request as an increase to the total available facility. The extension of the Facility extends the maturity to December 21, 2017, compared to December 16, 2016 prior to extension.

The company's cost of borrowing under the facility remains unchanged. The amount and ultimate occurrence of any dividend declared by the company is subject to the approval of Cervus' Board of Directors.  Under the amended facility, Cervus has agreed that any dividend declared will not exceed $0.2125 per share on a quarterly basis prior to April 2017.

"We are pleased with the continued support and partnership of our syndicate lenders through this economic cycle," said Graham Drake, President and CEO of Cervus. "The $100 million committed credit facility provides stability for our existing operations and maintains capital flexibility for the future."

The principal purpose of this Facility is to finance Cervus' general corporate operating requirements, including capital expenditures, permitted acquisitions and permitted investments. As of the date hereof, approximately $53 million has been drawn down on this Facility.

Cervus acquires and operates authorized agricultural, construction, materials handling and transportation equipment dealerships.