Business
Axiologix Signs $5 Million Revolving Credit Facility With TCA Global Credit Master Fund To Support Growth And Advance Acquisition Efforts
Axiologix Signs $5 Million Revolving Credit Facility With TCA Global Credit Master Fund To Support Growth And Advance Acquisition Efforts.
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nAxiologix Signs $5 Million Revolving Credit Facility With TCA Global Credit Master Fund To Support Growth And Advance Acquisition Efforts\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nAxiologix Signs $5 Million Revolving Credit Facility With TCA Global Credit Master Fund To Support Growth And Advance Acquisition Efforts\n\nPR Newswire\n\nSARASOTA, Fla., Sept. 19, 2013\n\n\n\n\n\n\n\nSARASOTA, Fla., Sept. 19, 2013 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (Pinksheets:AXLX), an International Technology and Services Organization focused on delivering 'Cloud' Products and Services, today announced that on September 12, 2013, it and all of its wholly owned subsidiaries closed a Senior Secured Revolving Credit Facility of up to $5 million with TCA Global Credit Master Fund, LP (\"TCA\") to provide operating capital and fund acquisitions. \n\n\nAn initial draw of $250,000, less transaction expenses and necessary debt reduction payments, netted $157,000 for use in existing operations. The Company intends to use the remaining facility primarily to fund revenue and profit accretive acquisitions. Additional draws under the facility are available on an as-needed basis, based on a mutually approved formula of eligible receivables and assets, subject to continuing compliance with the terms of the revolving credit facility.\n\n\nAlso, as a condition of the facility, the Company agreed to register its shares of common stock with the Securities and Exchange Commission (SEC), through the filing of a SEC Form 10, within three months of the Closing. \n\n\nFor additional information on this financing and related transactions and exhibits please refer to the Company's filings with the OTC Markets Disclosure Service at http://www.otcmarkets.com/stock/AXLX/filings \n\n\n\n\nVincent Browne, Chairman and Chief Executive of Axiologix, Inc. said, \"This is another significant event in our development and growth plans. This facility with TCA forms a key pillar in our funding capability and, with another strong funding partner behind us, demonstrates to custo...