Nutroganics (NUTT) Secures $500,000 Financing Facility With Crestmark Bank
12 February 2014 - 1:00AM
Marketwired
Nutroganics (NUTT) Secures $500,000 Financing Facility With
Crestmark Bank
BETHESDA, MD--(Marketwired - Feb 11, 2014) - Nutroganics, Inc.
(PINKSHEETS: NUTT) (the "Company") announced today that its wholly
owned subsidiary, Silverbow Honey, has entered into a three
year financing facility with Crestmark Bank under which Crestmark
will make available up to $500,000 of working capital to
Silverbow. The capital will be used to support Silverbow's
growth, including the recently announced alliance with Clark's
Honey Farm of Colorado.
"We are pleased to be working with Crestmark on this new
financing," said David Sackler, CEO of
Nutroganics. "Given Crestmark's size and stability, their
financing solutions can grow with us as our financing needs
increase."
For further information, please contact David Sackler,
Nutroganics, Inc., (516) 513-5113, dsackler@nutroganics.com and/or
www.nutroganics.com.
ABOUT NUTROGANICS
Nutroganics, Inc. acquires and grows revenue-generating businesses
operating in the consumables segment of the healthy lifestyle
marketplace, and seeks to capitalize on synergies from
manufacturing through distribution. Nutroganics' wholly owned
subsidiary, Silverbow Honey Company, was founded in 1945, and is a
producer and packager of natural and organic honey products, with
its Silverbow brand distribution in national grocery, club, and
mass merchant retailers, and the Clark's Honey Farm brand
distribution in regional and national specialty, and
natural/organic food retailers, www.nutroganics.com.
ABOUT CRESTMARK
Crestmark is a nationally known and respected FDIC-insured bank
that provides innovative financial solutions for small- to
medium-sized businesses. Financing solutions include asset-based
lending, accounts receivable financing, lines of credit, factoring
and equipment financing. Crestmark finances most
business-to-business companies, and has extensive experience in
helping many industries including transportation, manufacturing,
staffing, petrochemical, government contractors, apparel and
furniture manufacturing. Headquartered in Michigan, with locations
in California, Florida, Louisiana, Tennessee, New York, and
Illinois; representatives in Alabama, Maryland, North Carolina, and
Texas. www.crestmark.com
Forward-Looking Statements:
This release may contain forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors, which may cause the actual
results, performance, or achievements of the Company to be
materially different from any future results, performance, or
achievements expressed or implied by the forward-looking
statements. The Company undertakes no obligation to update any
forward-looking statements to reflect events or circumstances after
the date of such statements.
Contact: David Sackler 516-513-5113
Nutroganics (CE) (USOTC:NUTTQ)
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