With an initial tranche of funding of $350,000, Bravatek Solutions, Inc. (OTCQB:ECRY) announced that it has negotiated a $3-million line of secured financing from TCA’s Global Credit Master Fund to finance continued business development and execute on existing telecom services contracts Bravatek recently acquired from Viking Telecom Services.
The financing facility agreement provides Bravatek access to more capital, with lender’s consent, as the company’s asset base increases.
“In a relatively short period, we have developed a suite of top-tier cyber products under the brand ECRYPT ONE, as well as executed an acquisition providing eight, lucrative IDIQ (Indefinite Delivery Indefinite Quantity) contracts representing millions in potential purchase orders,” says Thomas A. Cellucci, Ph.D., MBA, the Chairman and CEO of Bravatek.
The line is secured by Bravatek’s assets, and the lender has a right to convert all or a portion of the principal into an equity position in Bravatek if it is not paid back as agreed. Bravatek anticipates repaying the loan in full by February of 2017.
Loan proceeds will also be used to support the support Bravatek’s recently acquired Viking Telecom Services operations to reduce its ever-increasing order backlog.
Simultaneous with final negotiations on the credit facility, the Company also announced that some investors are buying out current convertible notes.
About Bravatek
Bravatek Solutions, Inc. is a high technology security solutions portfolio provider that assists corporate entities, governments and individuals to protect their organizations against both physical and cyber-attacks through its offering of the most technically-advanced, cost-effective and reliable software, tools and systems.
For more information, visit www.bravatek.com
About TCA’s Global Credit Master Fund
TCA’s Global Credit Master Fund is a short duration, absolute return niche Credit fund specializing in senior secured lending and advisory services to small, mainly listed companies predominately in the U.S., Canada, the United Kingdom and Australia. This specialist business fills the underserved small-cap lending gap which exists in these markets
Forward Looking Statements
This information may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). TCA and ECRY claim the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,” “projects,” “expects,” or “anticipates,” and do not reflect historical facts.
Specific forward-looking statements could be in reference/ implication, but not limited to/of: impact of the company’s expansion plan, and new business development success, future financial results, development and acquisition of new product lines, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The information contained herein does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product. Any such offer may only be made by means of delivery of an approved confidential offering memorandum and only in those jurisdictions where permitted by law. There is no guarantee that the investment objectives of the Fund will be achieved. The performance representations contained herein are not representations that such performance will continue in the future. There may be sharp differences between prior performance results; such performance should not be construed as an indicator of future performance. Performance information and/or results, unless otherwise indicated, are un-audited and their appearance reflects the estimated returns net of all expenses, including the management and performance fees similar to those of the Fund. The information contained herein does not take into account the particular investment objectives or financial circumstances of any specific person who may receive it. Before making an investment, prospective investors are advised to carefully review the offering memorandum with their advisers to determine whether investing in the Fund is suitable. An investment in the Fund is speculative and involves a high degree of risk. Opportunities for withdrawal and transferability of interests can be restrictive. As a result, investors may not have access to capital except according to the terms of withdrawal specified within the confidential offering memorandum and other related documents.
Media contact:
Bravatek Solutions, Inc.
1.866.204.6703
SOURCE: Bravatek
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