Creative Edge Nutrition, Inc. Secures $2.0 Million Financing Contract
MADISON HEIGHTS, Mich., Dec. 12, 2012 /PRNewswire/ -- Creative Edge Nutrition, Inc. (PINKSHEETS: FITX), a nutritional supplement company focusing on active lifestyles, announces its financing contract with Ashford Finance LLC based in New York, NY. Under the terms of the contract, Ashford Finance will provide an initial revolving Line of Credit of $2 million dollars in purchase order financing, and provide additional financing for accounts receivable and transactional working capital. The Lines of Credit will allow Creative Edge to immediately increase its efficiency in processing purchase orders from its qualified distributors. Creative Edge has secured initial purchase orders for its Cenergy and SDN brand products in excess of $780,000 USD, with additional purchase order pipeline of $2.4 million dollars, from its approved distributors. Ashford Finance has approved the initial purchase orders, and is able to provide scalable financing to meet Creative Edge needs, which will strategically position the Company for rapid expanded distribution and exponential growth.
Bill Chaaban, CEO, states, "Ashford Finance is an international finance company that will underwrite our qualified distributors in the U.S. and Canada, and will work with some of the larger distributors in Australia and Europe. They are a seasoned finance company, and have the ability to increase our Lines Of Credit based on volume orders, which will equip us for rapid penetration and exponential growth, through our distribution network of over thirty companies. Additionally, Ashford will assist us in inspection services and invoicing, with its great reputation with industry manufacturers and distributors. We look forward to a mutually rewarding and profitable financing partnership."
Noushir Hasan, Ashford Finance CEO, states, "Ashford Finance brings a global team and partners that deliver excellence and professionalism, and we will work with Creative Edge Nutrition, Inc. to take care of all their purchase order financing needs, from their smaller approved buyers, to a few of the industry's largest nationwide retailers. They present great products in a growing nutritional supplement marketplace, and we will provide scalable financing options to service to their distributors and customers."
About Ashford Finance www.ashfordfinance.com
Ashford Finance is a specialized finance company based in New York, providing purchase order financing, letters of credit and creative short-term transactional financing for importers, exporters, and other short-term borrowers. Ashford provides 100% funding of cost, and also overlays an operational management process that ensures the goods are of proper quality, insured, and shipped on time. Ashford Finance has over 17 years of experience, managed by professionals with extensive trade, finance and merchant banking backgrounds.
About Creative Edge Nutrition, Inc.
Creative Edge Nutrition is a holding company and a Nutritional Supplement Company focused on developing innovative, high quality supplements. The company offers a broad spectrum of capsules, tablets, and powders, as well as science based products in the principal categories of weight management, nutrition challenges, energy and fitness. The Company manufactures under strict GMP guidelines at GMP Certified and/or FDA registered facilities. www.CenergyNutrition.com and http://www.facebook.com/pages/Creative-Edge-Nutrition-Inc/115224738609211
Safe Harbor Notice
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
Contact: Jeff Thomas (313) 655-1669 Email: Info@cenergynutrition.com
SOURCE Creative Edge Nutrition, Inc.