Zedcor announced that it has entered into an expanded credit facility with a new primary lender for $30 million in total credit, representing a significant increase to the company's existing credit facilities.

The agreement, which is fully committed for three years, consists of:

• A $20.0 million term loan that is amortized over five years with monthly payments of principal and interest. The Term Loan can be drawn on two tranches: the first tranche of approximately $15.1 million will be used to repay the Company's outstanding equipment financing and term loan, and the remaining tranche of approximately $4.9 million will be used to fund capital asset purchases in 2025.
• A $10.0 million revolving loan facility which will be used to fund the Company's 2025 capital program, for general corporate purposes and for working capital. The Revolving Loan is not margined and Zedcor is able to draw on it at any time.

The Credit Facility bears interest at rates of Prime + 1.0% to Prime + 3.0% based on the Company's net funded debt to EBITDA ratio and will be calculated quarterly. The Credit Facility is secured with a first charge over the Company's current and after acquired assets and other standard financial and non-financial security.

The agreement has the following quarterly financial covenant requirements:

• A fixed charge coverage ratio of 1.15 to 1.00.
• A net funded debt to EBITDA ratio of 3.50:1.00, as at the Closing Date or as at the end of any Fiscal Quarter thereafter up to and including June 30, 2025. For any fiscal quarter ending on or after September 30, 2025, the net funded debt to EBITDA ratio will be 3.00:1.00.

The expanded Credit Facility, as well as the increased net funded debt to EBITDA ratio flexibility until June 30, 2025 allows the company to focus on expanding its geographical footprint in the US and to continue to expand its fleet of MobilieyeZTM in Canada. Todd Ziniuk, President and CEO of Zedcor, stated "This additional access to credit, along with internally generated cash flow, provides funding for our expansion plans in 2025, as we grow into new markets in the United States. We are seeing nearly full utilization for our MobilieyeZTM security towers and demand for our services continues to be robust in both the US and Canada. Our expansion strategy remains on track and we have ramped up our manufacturing and monitoring center operations in order to service the anticipated growth. We look forward to growing our partnership with ATB Financial to continue our mission to become North America's leading and most trusted security solutions provider."

Appointment of Presidents of Operations

Zedcor is also announced the appointment of James Leganchuk as President Operations USA and Tony Ciarla as President Operations Canada. Leganchuk has been with Zedcor since 2011, previously serving in various executive positions. Ciarla joined Zedcor in August 2022 and was previously Executive Vice President. Both Leganchuk and Ciarla have extensive industry knowledge of operations and sales. Leganchuk will be based out of Houston, Texas and Ciarla will be based out of the company's headquarters in Calgary, Alberta.

Issuance of Restricted Share Units

On Dec. 18, 2024, 250,000 Restricted Share Units ("RSUs") were granted to newly hired employees and contractors of the Company pursuant to the Company's fixed 10% RSU/DSU plan. All of the RSUs will vest as to one third thereof on each of the first, second and third anniversaries of the date of grant. The RSUs may be settled in cash or common shares of the Company issued from treasury or purchased in the market, at the discretion of the Company's board of directors.