Encore Brands, Inc. Secures $5 million Dollar Revolving Line of Creditadmin
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:
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Source: Encore Brands, Inc.
Posted: January 21st, 2014 under ACCESSWIRE.