Encore Brands, Inc. Secures $5 million Dollar Revolving Line of Credit
21 Januar 2014 - 4:15PM
Access Wire
SANTA MONICA, CA / January 21, 2014 / ACCESSWIRE / On December
27th, Encore Brands, Inc. (OTCBB: ENCB) (“Encore”, “Encore Brands”)
closed a credit agreement with TCA Global Master Credit Fund LP.
The agreement provides up to $5 million dollars available to the
company for working capital in the form of a revolving line of
credit. This funding agreement was closed in tandem with the
purchase agreement to acquire Northridge Mills Holdings, Inc.
(“Northridge”) an apparel manufacturer in San Fernando,
California.
The access to the credit line allows Encore to operate and grow
the business of Northridge and begin to fully execute its business
plans for 2014. In addition, the company is currently updating its
filings and audits with the goal of being fully reporting again
before the end of the quarter.
CEO Gareth West stated, “We are happy to close this agreement
with TCA, this was the best opportunity for Encore Brands to begin
to build revenue, have access to capital and act on the
opportunities and deal flow we have been working on.”
About Encore Brands, Inc.
Encore Brands, Inc. (OTC.BB:ENCB) is a Nevada Corp. with offices
in Santa Monica, California. The company was founded with the
desire to create, acquire and license unique consumer brands. By
leveraging a network of distributors and sales people, Encore
Brands is creating and managing a brand portfolio that will be
distributed directly and through third parties domestically and
internationally.
This report includes forward-looking statements intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally can be identified by phrases
such as Encore Brands or its management “believes,” “expects,”
“anticipates,” “foresees,” “forecasts,” “estimates” or other words
or phrases of similar import. Similarly, statements herein that
describe Encore Brands business strategy, outlook, objectives,
plans, intentions or goals also are forward-looking statements. All
such forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward-looking statements. We urge you to carefully
consider any and all important factors that could cause actual
results to differ materially from the expectations of Encore Brands
or its management:
For information contact Alex McKean at alex@encorebrands.com
Source: Encore Brands, Inc.
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