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Rutter Announces Loan payment of $600,000 Against Term Loan

^{Published on 2010-10-04 13:17:47 - Market Wire}
 

ST. JOHN'S, Oct. 4 /CNW/ - Today, Rutter Inc. (TSX: RUT) announced that it has made a $600,000 payment against its term loan which matured August 31, 2010.

The loan repayment was made from available excess cash generated by operations and reduces the outstanding loan balance to $5,714,000. Discussions are continuing with the lender to modify the conditions of the loan and are expected to conclude during this quarter.

About Rutter Inc. - Rutter is an enterprise focused on providing innovative technologies and engineering solutions. Rutter's global network supplies technologies to improve efficiency and safety in the marine, defense, transportation, oil and gas sectors from its headquarters in the Province of Newfoundland and Labrador. Multidisciplinary consulting engineering services including civil, structural, mechanical and electrical engineering as well as environmental and construction management services are provided to a diverse client base which includes all levels of government and the oil and gas and industrial sectors. For more information see [ www.rutter.ca ]

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These statements reflect current expectations and are subject to a number of risks and uncertainties including but not limited to, change in technology and general market conditions. Due to the many risks and uncertainties, Rutter Inc. cannot assure that forward-looking statements that may be contained in this press release will be realized.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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