iTeknik Holding Corporation Secures $15 million Institutional Credit Facility to be Utilized for Acquisitions
25 January 2017 - 7:37AM
Marketwired
iTeknik Holding Corporation Secures $15 million Institutional
Credit Facility to be Utilized for Acquisitions
WEST PALM BEACH, FL-(Marketwired - Jan 24, 2017) - iTeknik
Holding Corporation (OTC PINK: ITKH) announced that on December
30th, 2016 it had secured a $15 million dollar credit facility from
institutional lender, TCA Global Master Credit Fund, LP to be used
primarily for making acquisitions.
TCA Global Master Credit Fund, L.P. and iTeknik Holding
Corporation agreed to terms and closed on the $15 million facility
on the last business day of the year, December 30, 2016. The
facility is for 20 months and will provide multiple advances as
requested and approved for individual or multiple acquisitions.
Fred Wicks, the Company's Chairman and CEO said, "With access to
the amount of capital provided under this facility we believe that
we will be able to secure a number of significant acquisitions to
build shareholder value. In conjunction with securing this funding
we have developed a new strategy to focus in the media and
advertising space. We plan to make an acquisition that will give us
base to build from in the media and advertising space and then
expand through organic growth and future acquisitions. I also want
to thank all of the shareholders who have stayed with us through
this long refocusing process."
iTeknik Holding Corporation (OTC PINK: ITKH) trades on the OTC
Pink tier of the OTC Market. For quotes and market information on
the company, visit
http://www.otcmarkets.com/stock/ITKH/company-info.
About iTeknik Holding Corporation iTeknik Holding Corporation's
strategy (OTC PINK: ITKH) is to acquire fundamentally sound
companies that are market accepted, scalable and demonstrate a
quantifiable value proposition. Our focus is in companies that have
strong market presence, brand awareness and talented and dedicated
management teams with the potential to achieve exceptional
performance over time in the Marketing, Advertising and Digital
Media space. iTeknik lends its operational support, management
approach and financial resources to these companies to achieve
improvements in both revenue and earnings growth and positioning in
the marketplace.
Safe Harbor: This document contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended, which are intended to be covered by the safe
harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainty, including
without limitation, the ability of the Company to successfully
implement its turnaround strategy, changes in costs of raw
materials, labor, and employee benefits, as well as general market
conditions, competition and pricing. Although the Company believes
that the assumptions underlying the forward-looking statements
contained herein are reasonable, any of the assumptions could be
inaccurate, and therefore, there can be no assurance that the
forward-looking statements included in this letter will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as representation by the Company
or any other person that the objectives and plans of the Company
will be achieved. In assessing forward-looking statements included
herein, readers are urged to carefully read those statements. When
used in the Annual Report on Form 10-K, the words "estimate,"
"anticipate," "expect," "believe," and similar expressions are
intended to be forward-looking statements.
Contact: Investor Relations iTeknik Holding Corporation
info@iteknik.com 561-459-3809
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