RONKONKOMA, N.Y., Dec. 18 /PRNewswire-FirstCall/ -- Sentry Technology
Corporation (OTC Bulletin Board: SKVY) today announced it has entered into
a new $550,000 secured revolving credit facility with Tradition Capital
Bank. This facility will be in addition to Sentry's lending facility with
Royal Bank of Canada. The loan will be secured by Sentry's assets, in a
second position to Royal Bank of Canada, and guaranteed by Mr. Murdoch,
Sentry's President and CEO and Mr. Furst, a Sentry director. Interest is
payable at a rate of prime plus 1.00%. The Company may draw funds under the
facility through June 15, 2007.
Sentry Technology Corporation designs, manufactures, sells and installs
a complete line of Closed Circuit Television (CCTV) solutions,
Electro-Magnetic (EM) and RFID based Library Management systems as well as
Radio Frequency (RF) and Electro-Magnetic (EM) EAS systems. The CCTV
product line features SentryVision(R), SmartTrack, a proprietary, patented
traveling Surveillance System. The Company's products are used by libraries
to secure inventory and improve operating efficiency, by retailers to deter
shoplifting and internal theft and by industrial and institutional
customers to protect assets and people. For further information, please
visit our website at http://www.sentrytechnology.com.
This press release may include information that could constitute
forward- looking statements made pursuant to the safe harbor provision of
the Private Securities Litigation Reform Act of 1995. Any such
forward-looking statements may involve risk and uncertainties that could
cause actual results to differ materially from any future results
encompassed within the forward-looking statements. Factors that could cause
or contribute to such differences include those matters disclosed in the
Company's Securities and Exchange Commission filings.
CONTACT: Peter J. Mundy
Vice President - CFO
(631) 739-2000
SOURCE Sentry Technology Corporation
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Related links:
http://www.sentrytechnology.com
http://www.prnewswire.com/comp/494538.html /
CONTACT:
Peter J. Mundy, Vice President - CFO, Sentry
Technology Corporation, +1-631-739-2000
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