Tootie Pie Company Secures $ 1 Million Credit Line
SAN ANTONIO, April 17, 2012 /PRNewswire/ -- Tootie Pie Company, Inc. (OTCQB: TOOT) announced that it secured a $1 million credit line with TCA Global Credit Master Fund. The proceeds will be used as "working capital" to fund expansion of the Company's Tootie Pie Gourmet Cafe locations.
"Part of our aggressive growth strategy calls for us to acquire existing Cafe locations that may become available, sometimes on short notice," said Don Merrill, President & CEO. "Being able to tap into this credit line will allow us to take advantage of these opportunities as they arise."
The Company currently owns and operates six Tootie Pie Gourmet Cafes in San Antonio, Austin, Fredericksburg and Dallas (Frisco), TX.
About Tootie Pie Co.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafes, in-store sales, orders via telephone and internet on the Company's website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the OTCQB market under the symbol "TOOT." For additional information or to receive correspondence from Tootie Pie Company, please visit www.tootiepieco.com.
TCA Global Master Credit Fund, LP continues as one of the first alternative funds solely focused on short term senior secured debt transactions and associated advisory services primarily for listed SME's. The Fund's management is enjoying its second decade in providing custom debt funding and specialist corporate advice, which is a level of expertise usually only afforded to much larger companies. The Fund's strategy combines debt funding, advisory services and associated fee income with small secured exposures to achieve the goal of uncorrelated, low variance returns. TCA employs AIMA best practices, transparency and governance as well as using top flight service providers. TCA's reference list includes investors, service providers and a list of the portfolio companies it has financed. The Fund has a great working relationship with its portfolio companies as evidences by a repeat business rate in excess of 50 percent despite its high yield return goals. TCA is registered with the Cayman Islands Monetary Authority (CIMA) as a master feeder structure and is currently registering a share class on the Cayman Stock Exchange. The Fund is also making applicable registration with the Securities and Exchange Commission (SEC) in the United States. It has offices in London, Australia and the United States.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," and "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
1404 Rodman Street
Hollywood, FL 33020 USA
Phone: +1-954-920-1205 Fax: +1-786-323-1651
SOURCE Tootie Pie Company, Inc.