Poseidon Concepts Corp. announced that it has entered into a new and increased $100 million two-year extendible revolving credit facility. The New Facility is a senior secured revolving credit facility led by Toronto-Dominion Bank and including Bank of Nova Scotia, HSBC Bank Canada and National Bank of Canada. The New Facility also includes an annual provision for the Company to request an extension to the two-year term. The increase in the amount of funds available under the New Facility, combined with Poseidon's strong current financial position and anticipated future cash flows, provides the company with considerable flexibility and working capital to execute on its ongoing growth plans and pursue additional market opportunities. The company also announced that its Board of Directors has declared a dividend of $0.09 per common share payable on August 15, 2012 for the holders of record date on July 31, 2012 with ex-dividend date of July 27, 2012. The Board declared a dividend of $0.09 per common share payable on September 17, 2012 for the holders of record date on August 31, 2012 with ex-dividend date of August 29, 2012. The Board also declared a dividend of $0.09 per common share payable on October 15, 2012 for the holders of record date on September 28, 2012 with ex-dividend date of September 26, 2012.