WESTMINSTER, Colo.,
Dec. 11, 2014 /PRNewswire/
-- Monarch America Inc. (OTCQB: CANK) ("Monarch America" or
the "Company") (f/k/a Cannabis Kinetics Corp.) is pleased to
announce that the Company has entered into a $1,500,000 Drawdown Promissory Note Agreement
(the "Agreement").
Under terms of the Agreement, the investor has committed to
provide $1,500,000 in new funding to
Monarch America in exchange for promissory notes bearing an
interest rate of 8% and repayable January
15, 2016. No new shares of Company stock will be
issued in conjunction with the Agreement. Monarch America has
already received $150,000 in funding
from the Agreement and expects to drawdown the entire $1,500,000 financing facility prior to the end of
January 2015.
"We are very pleased and appreciative that one of our earlier
stage investors has agreed to increase their commitment to funding
the Company's future growth," stated Eric
Hagen, CEO of Monarch America Inc. "This non-dilutive
injection of new capital will allow Monarch America to immediately
push forward and accelerate our planned acquisition of the
established The Big Tomato hydroponics and indoor garden supply
business and expand it into other states while growing our coco
coir operations, bringing new products to market, and launching a
consulting component to our business model."
Hagen concluded, "This milestone financing will put us in our
strongest position ever to execute on our near and longer term
growth initiatives. We look forward to continuing to work with our
financial partners to expand our businesses and build shareholder
value at Monarch America."
Monarch America Inc. (f/k/a Cannabis Kinetics Corp.) files
reports with the Securities & Exchange Commission on EDGAR and
anticipates continuing to file such reports. The Company's
filings can be viewed at www.sec.gov.
Additional information regarding the Company can also be found
on its website at www.CannabisKinetics.com.
Contact:
Monarch America Inc.
Toll-Free: (888) 668-2280
E-mail:
media@CannabisKinetics.com
Website: www.CannabisKinetics.com
Cautionary Language Concerning Forward-Looking
Statements
Statements in this press release may be "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Words such as "anticipate", "believe",
"estimate", "expect", "intend", and similar expressions, as they
relate to the company or its management, identify forward-looking
statements. These statements are based on current
expectations, estimates and projections about the company's
business based, in part, on assumptions made by management.
These statements are not guarantees of future performance and
involve risks, uncertainties and assumptions that are difficult to
predict. Therefore, actual outcomes and results may, and
probably will, differ materially from what is expressed or
forecasted in such forward-looking statements due to numerous
factors, including those described above and those risks discussed
from time to time in Cannabis Kinetics Corp.'s filings with the
Securities & Exchange Commission. As a reporting issuer
with the Securities & Exchange Commission, Cannabis Kinetics
Corp. files Quarterly and Annual Reports and other documents on
EDGAR. We strongly urge all persons to read our filings at
www.sec.gov, which are publicly available, in conjunction with this
press release as we are in a highly regulated industry that
requires thorough research prior to making any decision regarding a
company, particularly an investment decision. In addition,
such statements could be affected by risks and uncertainties
related to Cannabis Kinetics Corp.'s (i) product demand, market and
customer acceptance of its equipment and other goods, (ii) ability
to obtain financing to expand its operations, (iii) ability to
attract qualified management representatives, (iv) competition,
pricing and development difficulties, (v) ability to fully
implement our business plan as a result of being a reporting issuer
with the Securities and Exchange Commission, and (vi) general
industry and market conditions and growth rates and general
economic conditions. Statements made herein are as of the
date of this press release and should not be relied upon as of any
subsequent date. The Company cautions readers not to place
undue reliance on such statements. Cannabis Kinetics Corp.
does not undertake, and specifically disclaims any obligation, to
update any forward-looking statements to reflect occurrences,
developments, unanticipated events or circumstances after the date
of such statement. Actual results may differ materially from
Cannabis Kinetics' expectations and estimates. Information on
Cannabis Kinetics Corp.'s website does not constitute a part of
this release.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/monarch-america-inc-secures-15-million-funding-commitment-300008345.html
SOURCE Monarch America Inc.
