Orbit Garant Secures $40 Million Credit Facility with National Bank Financial

Orbit Garant Secures $40 Million Credit Facility with National Bank Financial
Val-d’Or, Quebec, June 16, 2011 – Orbit Garant Drilling Inc. (TSX: OGD) (“Orbit Garant” or “the Company”) today announced a new C$40 million secured, four-year revolving credit facility with National Bank Financial, replacing the Company’s prior C$7 million one-year revolving credit facility held with the same institution. Orbit Garant and its lenders have the option to increase the funds available under the new credit facility up to a total of $60 million, subject to certain conditions. The new credit facility will be used to fund working capital requirements and provide further flexibility to the Company’s long-term acquisition program.  

About Orbit Garant
Orbit Garant is one of the largest Canadian-based drilling companies, providing both underground and surface drilling services in Canada and internationally through its 176 drills and more than 850 employees. Orbit Garant provides services to major, intermediate and junior mining companies, through each stage of mining exploration, development and production.

Forward-looking information
This press release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Orbit Garant Drilling Inc. (the “Company”) and the environment in which it operates. Forward-looking statements are identified by words such as “believe”, “anticipate”, “expect”, “intend”, “plan”, “will”, “may” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company’s regulatory filings available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.

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