Black Castle Development Holdings, Inc. Enters Negotiations with Multiple Financing Sources to Fuel Acquisition Growth
08 Mar, 2012, 09:00 ET
FRESNO, Calif., March 8, 2012 /PRNewswire/ -- Black Castle Developments Holdings, Inc. (Pink Sheets: BCDH), a holding company targeting the acquisition of undervalued, niche companies, announced that it has identified and entered into negotiations with multiple sources of financing, in addition to its existing line of credit for up to $50 million over a five-year period with an asset-based senior credit facility. While the previously announced $50 million line of credit, which is primarily reserved for real estate asset transactions, this financing is being raised exclusively to fund newly acquired companies, including A-Shine, Inc., the mobile marketing technology and signage firm bizM3and others prospects in the pipeline.
"We are pleased to pursue two separate courses of action for financing that combine to create an organization that is revenue-producing, profitable and transformational, the President and CEO of BCDH stated. We are tapping into high-growth industry sectors, and our acquisitions are distinctly positioned to grow with additional access to capital. The confidence we've had thus far among potential lending institutions and investors is very promising. We will update shareholders frequently on the status as we move to close on a new round of financing."
About Black Castle Developments Holdings, Inc.
Black Castle Developments Holdings, Inc. ("BCDH") is a holding company focused on the merger and acquisition of undervalued, revenue-generating companies that operate in high-growth niche markets. The Company has a solid track record of acquiring, integrating, and growing companies, most recently with the acquisition of A-Shine Inc. BCDH plans to leverage its management resources and status as a public entity to assist acquired companies to strengthen their local presence, grow internationally and achieve sustainable, profitable growth. For more information, visit www.blackcastledevelopments.com.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Black Castle Developments Holdings, Inc.
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