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BRIEF-Aveda Transportation and Energy Services provides operational and banking update
January 13, 2017 / 2:43 PM / 8 months ago

BRIEF-Aveda Transportation and Energy Services provides operational and banking update

Jan 13 (Reuters) - Aveda Transportation and Energy Services Inc

* Aveda Transportation and Energy Services provides operational and banking update

* Aveda Transportation and Energy Services Inc says extended asset based operating facility to May 31, 2019, maximum amount of new facility is $92.5 million

* Expects to invest approximately $4.0 million in hoisting equipment (predominately cranes) in 2017

* Aveda Transportation and Energy Services Inc says expects to invest approximately $1.0 - $2.0 million in maintenance capital expenditures in 2017

* Aveda Transportation and Energy Services Inc says new facility consists of committed facility of $77.5 million and an acquisition line accordion of $15.0 million

* Aveda Transportation and Energy Services Inc says also expects to invest approximately $1.0 - $2.0 million in maintenance capital expenditures in 2017

* Aveda Transportation and Energy Services Inc says if co fail to raise $10 million in new equity in Q1 2017, would constitute event of default under new agreement Source text for Eikon: Further company coverage:

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