Rapid Fire Marketing Secures First Institutional Investments of $2.2 Million Investments through Ironridge Consumer Co. will enable acceleration of Company growth, expansion of product lines and new business division
CARSON CITY, Nev., Sept. 25, 2012 /PRNewswire/ -- Rapid Fire Marketing (Pink Sheets: RFMK) a developer, producer and distributor of vapor inhalers announced today that the Company has obtained its first institutional investments from Ironridge Consumer Co., a division of Ironridge Global IV Ltd. The first investment which is nearly $700,000 will enable Rapid Fire Marketing to settle accounts payable and significantly increase its inventory of vapor inhalers, expand its product line and business operations via a new division. Additionally, the costs of the Company getting to fully reporting status will be offset significantly via the Ironridge investment.
The second funding is a $1.5 million cash financing which will enable the Company to more than meet all financial obligations as well as expand its business on all fronts. The term of this deal is for 30 months whereby Rapid Fire Marketing will receive $50,000 in funding per month.
"We are impressed with the disruptive potential of Rapid Fire Marketing's vapor inhaler technology," commented Brendan O'Neil, Managing Director of Ironridge Global. "We are pleased to have the opportunity to help facilitate further distribution to consumers."
"I am elated that we have obtained an institutional investment for the Company. This is rare at the Pink Sheet level to get an investment of this size. With most all of our financial concerns now solved, we can really get to work growing this business," said Tom Allinder, CEO of Rapid Fire Marketing.
"I want to thank Ironridge for their confidence in our Company and working with us to take the next big step in the growth of Rapid Fire Marketing. I also want to thank all of the people on our team that have been involved in putting this investment and funding together. One of my first objectives as CEO was to get Rapid Fire Marketing off the short term funding. This is a big step in that direction. Fortunately for our Company, Ironridge saw the strength of our business plan and have the confidence to go along for the ride," Allinder said.
About Ironridge Global
Ironridge Consumer Co. is a division of Ironridge Global IV, Ltd. that specializes in equity investments in the consumer products sector. Ironridge is an institutional investor, making direct equity investments in small cap public companies. The firm entered into dozens of equity financing transactions last year, ranging from a quarter million to $10 million each. Ironridge's core objective is to propel high growth companies in building faster growing and more profitable enterprises. Ironridge Global brings traditional private equity financial sophistication to small cap public companies. The firm does not desire to influence or control management, will not restrict use of proceeds, requires no restrictive covenants, and will never take an affiliate or control position. Ironridge Global places its trust in current management with a strong vision for accelerated growth and increased shareholder value.
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
SOURCE Rapid Fire Marketing