ENP Newswire -
Release date- 08082014 -
This new Credit Facility demonstrates
'Our new revolving credit facility provides substantially greater financial flexibility and the expanded capacity to finance inventory purchases while improving our overall working capital position,' said
About the Revolving Credit Facility
The Revolving Credit Facility (the 'Credit Facility') provides for the ability to draw on the aggregate principal amount of
The Credit Facility shall mature on
In connection to the Credit Facility, the Company issued 250,000 warrants to purchase the Company's common stock at an exercise price of
Additionally, the lender is acting as an agent for a consortium of investors, of which the Company's CEO and CFO have each committed to provide 10% of the principal amount of the Credit Facility. Neither officer shall have any participation in the warrants issued in connection to the Credit Facility.
Note: This press release contains 'forward looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events.
Such forward-looking statements are inherently uncertain.
Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in
For more information, please visit gillainc.com
Chief Executive Officer
Tel: 1 (855) 547-6653
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