N🟁N

Rutter Inc. Makes Final Repayment on Term A Loan

  //science-technology.news-articles.net/content/2 .. er-inc-makes-final-repayment-on-term-a-loan.html
  Published in Science and Technology on Tuesday, July 19th 2011 at 13:10 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

ST. JOHN'S, NL, July 19, 2011 /CNW/ - Today, Rutter Inc. (TSX: RUT) advises that the Company has made its final repayment against its Term A loan, the maturity of which was extended during the first quarter from August 31, 2010 to August 31, 2011.

Mr. Fraser Edison, President and CEO commented "This particular loan had a balance of $6,314,000 at the beginning of this fiscal year. Both through strategic dispositions and strong core operations, we have brought this debt down significantly over the past seven months and we are certainly very pleased to be in a position to pay the remaining balance of $466,000 ahead of the August 31, 2011 maturity."

Mr. Edison further noted "With one of our two term debts repaid, we believe the existing business is able to support more conventional financing available in today's marketplace with associated lower borrowing costs and accordingly, we are actively pursuing opportunities to refinance the remaining term debt."

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. 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.