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Reeflex Solutions Inc. Launches New Website and Releases Updated Investor Presentation
Globenewswire· 2025-08-05 12:15
Core Points - Reeflex Solutions Inc. has launched a new corporate website and updated investor presentation to enhance transparency and engagement with investors and stakeholders [1][4] - The new website serves as a centralized platform for information on the company's operations, management, corporate governance, and growth strategy [2] - The investor presentation outlines the company's business model, growth opportunities, and strategic priorities [3] Company Overview - Reeflex is a public company that provides advanced engineering and manufacturing solutions across various industry sectors [5] - The company operates through its wholly-owned subsidiary, Coil Solutions Inc., which offers coil tubing injectors and downhole tools for the oil and gas sector [5] - The manufacturing division, Ranglar Manufacturing, specializes in custom-designed mobile equipment for a wide range of industrial applications [5]
Reeflex Solutions Inc. Announces Financial Results for the Three and Nine Months Ended May 31, 2025, and Provides Corporate Update
Globenewswire· 2025-07-30 14:44
Core Viewpoint - Reeflex Solutions Inc. reported improved operating results in the third quarter of fiscal 2025, indicating a recovery in customer purchasing activity after a challenging first half due to deferred capital spending [3][6]. Financial Summary - Revenue for the three months ended May 31, 2025, was $3.3 million, a decrease of 13.2% from $3.8 million in the same period of fiscal 2024 [4]. - Gross profit for the same period was $1.7 million, down from $1.9 million year-over-year [4]. - Adjusted EBITDA was $0.4 million, compared to $0.6 million in the same quarter of the previous year [4]. - The net loss for the three months was $3.2 million, which included a one-time non-cash listing expense of $3.4 million; excluding this, the normalized net income would be $0.3 million [7]. - For the nine months ended May 31, 2025, revenue totaled $8.9 million, down from $12.8 million in the same period of fiscal 2024 [4]. Recent Developments - The company completed a reverse take-over of Bigstack Opportunities I Inc. and began trading on the TSX Venture Exchange under the symbol "RFX" [8][10]. - A $1.5 million credit facility was finalized with the Royal Bank of Canada, enhancing the company's financial position [8]. - The company reported positive working capital of $3.9 million as of May 31, 2025, with minimal bank debt [7]. Market Position and Strategy - Reeflex has an installed base of over 172 coiled tubing injectors, which provides a predictable stream of annual parts and service revenue, positioning the company to benefit from sustained activity in the energy sector [6]. - The company is optimistic about continued recovery in customer demand and plans to invest in new market opportunities, product enhancements, and operational efficiencies [9].
Reeflex Solutions Inc. Announces Credit Facility With the Royal Bank of Canada
Globenewswire· 2025-06-16 16:19
Core Points - Reeflex Solutions Inc. has entered into a credit agreement with the Royal Bank of Canada to support its growth and operational flexibility [1][3] - The credit facilities include a $1 million revolving demand facility and a $500,000 revolving term facility [2] - The financing is seen as a vote of confidence in the company's business model and management team [3] Credit Facilities Details - The revolving demand facility bears interest at the Royal Bank Prime Rate + 1.25% [2] - The revolving term facility consists of variable and fixed rate term loans with terms up to 72 months [2] - Specific repayment terms will be agreed upon at the time of drawdown [2] Security and Obligations - The credit agreement is secured by a General Security Agreement and a personal guarantee from an officer and director of the company [3] - It includes standard financial reporting obligations and customary fees such as an annual renewal fee, arrangement fee, and monthly management fee [4] Company Overview - Reeflex is a public company providing advanced engineering and manufacturing solutions across various industry sectors [5] - Through its subsidiary, Coil Solutions Inc., the company offers coil tubing injectors and downhole tools for the oil and gas sector [5] - The manufacturing division, Ranglar Manufacturing, specializes in custom-designed mobile equipment for a wide range of industrial applications [5]
Reeflex Solutions Inc. Announces Market-Making Agreement
Globenewswire· 2025-06-05 13:30
Company Overview - Reeflex Solutions Inc. is a public company that provides advanced engineering and manufacturing solutions across various industry sectors, particularly in the oil and gas sector through its subsidiary Coil Solutions Inc. [5] - The manufacturing division, Ranglar Manufacturing, specializes in custom-designed mobile equipment for a wide range of industrial applications [5] Market-Making Agreement - Reeflex has entered into an agreement with Ventum Financial Corp. to provide market-making services, subject to TSX Venture Exchange approval [1] - Ventum will receive a compensation of CAD$5,000 per month, payable in advance, for an initial term of three months, with automatic renewal for additional one-month terms unless terminated [2] - The agreement can be terminated by either party with 30 days' notice, and there are no performance factors or share options involved in the compensation [3] Ventum Financial Corp. - Ventum is a privately owned corporation based in Toronto, Ontario, with operational functions in Vancouver, British Columbia, and is recognized as a leading independent investment advisory and capital markets firm in Canada [4] - Ventum is a dealer-member of the Canadian Investment Regulatory Organization (CIRO) and has a commitment to integrity and client service [4]
Reeflex Solutions Inc. Announces Completion of Qualifying Transaction
Globenewswire· 2025-05-22 23:21
Core Viewpoint - Reeflex Solutions Inc. has successfully completed its Qualifying Transaction, marking a significant milestone for the company as it transitions to a public entity and aims to enhance its capabilities and resources [3][5]. Group 1: Qualifying Transaction Details - The Qualifying Transaction involved the acquisition of all issued and outstanding shares of Coil Solutions Inc. for a total consideration of $5.8 million, subject to post-closing adjustments [5]. - Reeflex changed its name from "Bigstack Opportunities I Inc." to "Reeflex Solutions Inc." as part of the transaction [3]. - Following the transaction, Reeflex completed a non-brokered private placement of 4,139,500 subscription receipts at $0.20 each, raising gross proceeds of $827,900 [5]. Group 2: Share Structure and Management - As of the completion of the Qualifying Transaction, there are 46,401,500 Reeflex Shares outstanding, with 36,239,500 shares (approximately 78.10%) held by former shareholders of Coil Solutions [6]. - Stock options for 3,050,000 Reeflex Shares were issued to the board and management following the transaction [6]. - The management team includes John Babic as President and CEO, along with other directors and officers [4][5]. Group 3: Trading and Regulatory Information - Trading of Reeflex Shares was halted and is expected to resume under the new ticker symbol "RFX" on the TSXV [2]. - The new CUSIP number for Reeflex Shares is 75846K105, and the new ISIN is CA75846K1057 [2]. Group 4: Auditor Change - Clearhouse LLP has resigned as the auditor of Reeflex, with MNP LLP appointed as the new auditor [11].