Sunpeaks Ventures Closes $7.5MM Committed Equity Facility with TCA Global Credit Master Fund
SILVER SPRING, Md., Dec. 17, 2012 /PRNewswire/ -- Sunpeaks Ventures, Inc. (OTCBB: SNPK) (PINKSHEETS: SNPK) (the "Company" or "Sunpeaks Ventures") announces it has closed a $7.5 million Committed Equity Facility Agreement with TCA Global Credit Master Fund ("TCA Fund"). Under the terms of the agreement, funds will be made available to Sunpeaks Ventures on an as-needed basis at Sunpeaks' discretion.
Additionally, the Company has borrowed an additional Seven Hundred Fifty Thousand Dollars ($750,000) under the Senior Secured Revolving Credit Facility Agreement dated as of September 30, 2012, with TCA Fund.
"We couldn't be more excited about growing our relationship with TCA. The additional draw down on the Debt facility will allow us to make investments in our IT infrastructure, expand our sales force, and make facilities improvements at our newest acquisition, Bryce. The Equity Facility will allow us the flexibility to have funds available to take advantage of future business opportunities should they arise. We now have the financial bandwidth to focus on improving operations and growing sales on all fronts," said Mackie A. Barch, CEO of Sunpeaks Ventures.
Sunpeaks Ventures, Inc. and its wholly owned subsidiary Healthcare Distribution Specialists, LLC ("HDS"), is distributor of specialty drugs and over-the-counter ("OTC") branded multivitamins to the healthcare provider market. HDS also owns and markets Clotamin®, a specialized over-the-counter multivitamin product designed for use by patients also on Warfarin®, a popular blood thinner that has a long list of known adverse drug and food interactions.
For additional information, please visit www.sunpeaksventures.com.
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Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Sunpeaks Ventures' actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Sunpeaks Ventures' filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Sunpeaks Ventures herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Sunpeaks Ventures disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
SOURCE Sunpeaks Ventures, Inc.