PotNetwork Holdings Inc. Mobilizes to Finalize Credit Line
(firmenpresse) - FT LAUDERDALE, FL -- (Marketwired) -- 08/11/16 -- (OTC PINK: POTN) is pleased to announce that the Company, having a non-binding signed term sheet in place, subject to legal and due diligence process initiated by TCA Global Credit Master Fund, LP, upon successful completion, shall receive an initial tranche in the range of $560,000.
The Company recently announced that it had secured a $2,000,000 revolving line of credit with TCA Global Credit Master Fund, LP of Aventura, Florida. At this point, both entities are in the due diligence process. The Company has agreed to facilitate TCA Global Credit Master Fund, LP with whatever the fund may need to conclude and close on the transaction, and will be prompt to update shareholders as events transpire.
As the Company moves forward with its strategy to recapitalize Sunrise Auto Mall, marketed under the service mark "Sign-n-Drive," management is committed to keep its investors fully informed of how the Company intends to re-establish a successful subprime lending corporation in this ever-changing automotive and technological landscape.
With established funding, the Company will be able to enable the efficient execution of directed opportunities that can contribute substantially to the outlook and future revenues of the Company, while diligently advancing on the development of a modernized business model, designed to enable operations with reduced overhead and increased profit margins.
TCA''s Global Credit Master Fund is a short duration, absolute return niche Credit fund specializing in senior secured lending and advisory services to small, mainly listed companies predominately in the U.S., Canada, the United Kingdom and Australia. This specialist business helps to fill the underserved small-cap lending gap which exists in these markets. For details about TCA Global Fund visit:
The Company recently announced that upon FINRA approval, the Company will officially change its name to SND AUTO GROUP INC. In conjunction with the corporate name change, the Company has also applied for a new symbol, "CARS." This rebranding initiative is a necessary preliminary milestone as the Company evolves. A series of announcements will be forthcoming regarding recent advancement as developments continue.
PotNetwork Holdings Inc. is a publicly traded company with one wholly owned subsidiary, Sunrise Auto Mall Inc. Sunrise Auto Mall, Inc. is a first-rate pre-owned auto dealership, launched in June of 2014, as an operation geared toward enabling people challenged with bad or no credit in securing quality transportation while simultaneously rebuilding the client''s credit. The company has developed a highly profitable business model around the continually rising subprime lending industry.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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Datum: 11.08.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 1452105
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