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Seedo Signs MOU to Secure $30 Million Commercial Line of Credit to Finance Consumer Leasing of Its Home Grow Units
Seedo Signs MOU to Secure $30 Million Commercial Line of Credit to Finance Consumer Leasing of Its Home Grow Units.
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[{"type":"text","content":"\n\n\n\nSeedo Signs MOU to Secure $30 Million Commercial Line of Credit to Finance Consumer Leasing of Its Home Grow Units\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\nSeedo Signs MOU to Secure $30 Million Commercial Line of Credit to Finance Consumer Leasing of Its Home Grow Units\nSeedo Plans to Leverage $30M Line of Credit to Launch a New Leasing Business Model to Make the Home Cultivator Device More Accessible to its Growing Consumer Base\nPR Newswire\nTEL AVIV, Israel, Aug. 6, 2019\n\n\n\nTEL AVIV, Israel, Aug. 6, 2019 /PRNewswire/ -- \"Seedo\" (OTCQB: SEDO) – an agritech company providing the world's first fully automated and controlled indoor growing device for the \"at-home agriculture\" markets as well as commercial scale systems, today announced it signed a Memorandum of Understanding (MOU) to secure a $30 million line of credit to make its Seedo Home grow device even more accessible to consumers. The MOU is non binding and the parties plan to enter into definitive agreements within 60 days.  \n\n \n \n\n \nSeedo has received highly encouraging feedback and positive reviews from customers who have completed their first grow cycle in the home grow unit. Now, the company intends to use this commercial line of credit, once finalized, to launch a home-grow unit leasing business model. Through home unit leasing, customers will be able to pay a small down payment and monthly leasing fee to have the home-grow unit without owning it, making the unit more affordable and accessible for a wider range of consumers.\nThe Company has been successfully scaling operations and has made major progress in optimizing logistics protocols, providing after-sale customer service and identifying new market opportunities for home-grow and commercial-scale systems. \n\"We are excited to launch a new leasing business model for the home-grow unit, which will allow us to bring our vision to a wider range of consumers as the 'at-home agriculture' industry continues to grow,\" said Zohar Levy, CEO of Seedo. \"Seedo is having a momentous year, and with this new planned ...