Lot78 increases Trade and Factoring facility from 100,000 Pound Sterling ($164,000) to 600,000 Pound Sterling ($984,000)

Jan 08, 2014, 13:54 ET from Lot78 Inc.

NEW YORK, Jan. 8, 2014 /PRNewswire/ -- Lot78 Inc. (OTC:LOTE), confirms that an 8-K has been filed for the above material definitive agreement, and is pleased to announce that its wholly owned subsidiary, Lot78 UK Limited, has increased its Trade and Factoring facility limit by $820,000 to $984,000 with Bibby Trade Services Limited www.bibbyfinancialservices.com.

'With this increased facility in place, we can look to expand our sales into new territories for the FW14 season' says Asgherali Gulamhussein, CFO of Lot78 Inc.

About Lot78 Inc. - 
Lot78 Inc. is a trend-setting leader in the design, marketing, distribution and sale of urban apparel – retailing under the brand name "Lot78" in five continents, including: North America, Europe, Asia, Australia, and South America.  Lot78 has been featured in US Weekly, Elle Magazine, Financial Times, Harrods Magazine, The London Evening Standard, and Grazia Magazine as an emerging global brand.  

Lot78 Inc. is quoted on the OTC in the United States of America under the symbol LOTE.OB. For more information, please visit www.lot78.com.

Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.  Actual results could differ from those projected in any forward-looking statements due to numerous factors.  Such factors include, among others, Lot78's products to gain market acceptance, and the difficulties faced by an early stage retail fashion company in the competitive retail fashion industry.  These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.  Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.  Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the Company's recent current reports on Form 8-K, our annual report on Form 10-K, our quarterly reports on Form 10-Q, and other periodic and current reports filed from time to time with the Securities and Exchange Commission.

SOURCE Lot78 Inc.