Oncologix Closes $4,000,000 Revolving Credit Facility From Senior Lender
09 January 2014 - 1:00AM
Marketwired
Oncologix Closes $4,000,000 Revolving Credit Facility From Senior
Lender
ALEXANDRIA, LA--(Marketwired - Jan 8, 2014) - Oncologix Tech
Inc. (OTCQB: OCLG), announced today that it has closed on a
$4,000,000 revolving line of credit. Under the terms of the
agreement, TCA Global Credit Master Fund, L.P. committed to lend
$4,000,000 through one of the Fund's Senior Secured Revolving
Notes, with an initial draw of $500,000. The Company must meet
specific monthly reporting and collateral requirements to further
draw on the revolving credit facility.
Wayne Erwin, CEO of Oncologix,
stated, "We are delighted to secure a credit facility with TCA
Global that will support our company's financing needs throughout
2014. This facility will assist us with vital working capital and
provide the capital structure needed to further our corporate
strategy of continued growth primarily by acquisitions in our
Healthcare Services division."
TCA Global is a short
duration, absolute return fund specializing in senior secured
lending to small, mainly listed companies in the U.S., Canada,
Western Europe and Australia. The firm has a level of domestic and
cross-border expertise, long-standing experience and funding
innovations, as is reflected in the number of transactions
completed. For more information see www.tcaglobalfund.com.
Oncologix operates and manufactures Class II medical device
products and delivers Personal Healthcare Services nationally. For
its clients, Oncologix provides FDA approved medical devices and
State licensed healthcare services. For its shareholders, Oncologix
operates profitable business divisions that build, maintain and
nourish shareholder value. The Company's corporate mission is to be
the best small cap medical device and healthcare services holding
company in North America.
This press release may contain forward-looking statements, made
in reliance upon Section 21D of the Exchange Act of 1934, which
involve known and unknown risks, uncertainties or other factors
that could cause actual results to differ materially from the
results, performance, or expectations implied by these
forward-looking statements. The Company's expectations, among other
things, are dependent upon economic conditions, continued demand
for its products, the availability of raw materials, retention of
its key management and operating personnel, its ability to operate
its subsidiary companies effectively, need for and availability of
more capital as well as other uncontrollable or unknown factors
which are more fully disclosed in the Company's filings with the
Securities and Exchange Commission.
CONTACT
INFORMATION Wayne Erwin Chairman and CEO Email Contact (318)
769-1958 INVESTOR
RELATIONS Jack Eversull President The Eversull Group, Inc.
972-571-1624 214-469-2361 fax Email Contact
Oncologix Tech (CE) (USOTC:OCLG)
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