Axiologix Signs $5 Million Revolving Credit Facility With TCA
Global Credit Master Fund To Support Growth And Advance Acquisition
Efforts
SARASOTA, Fla., Sept. 19, 2013 /PRNewswire/ -- Axiologix, Inc.
(www.axiologix.net) (Pinksheets:AXLX), an International Technology
and Services Organization focused on delivering 'Cloud' Products
and Services, today announced that on September 12, 2013, it and all of its wholly
owned subsidiaries closed a Senior Secured Revolving Credit
Facility of up to $5 million with TCA
Global Credit Master Fund, LP ("TCA") to provide operating capital
and fund acquisitions.
An initial draw of $250,000, less
transaction expenses and necessary debt reduction payments, netted
$157,000 for use in existing
operations. The Company intends to use the remaining facility
primarily to fund revenue and profit accretive acquisitions.
Additional draws under the facility are available on an as-needed
basis, based on a mutually approved formula of eligible receivables
and assets, subject to continuing compliance with the terms of the
revolving credit facility.
Also, as a condition of the facility, the Company agreed to
register its shares of common stock with the Securities and
Exchange Commission (SEC), through the filing of a SEC Form 10,
within three months of the Closing.
For additional information on this financing and related
transactions and exhibits please refer to the Company's filings
with the OTC Markets Disclosure Service at
http://www.otcmarkets.com/stock/AXLX/filings
Vincent Browne, Chairman and Chief
Executive of Axiologix, Inc. said, "This is another significant
event in our development and growth plans. This facility with TCA
forms a key pillar in our funding capability and, with another
strong funding partner behind us, demonstrates to customers,
partners and targeted acquisitions collectively that we are in a
position to execute. Whereas, this facility may not be suitable for
all acquisitions, the confidence that such proof of funds provides
and our ability to move quickly on transactions should make us more
attractive to potential sellers and provide an advantage in
competitive negotiations. We look forward to building a strong
relationship with TCA over the coming months and
years."
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About TCA Global Credit Master Fund, LP
TCA Global Credit Master Fund, TCA, is a short duration,
absolute return fund specializing in senior secured lending and
advisory services to small, mainly listed companies predominately
in the U.S., Canada, Western Europe and Australia. TCA's specialist business fills the
underserved small-cap lending gap that exists in these leading
markets. The TCA team has an unparalleled level of domestic and
cross-border expertise, long-standing relationships and a history
of comprehensive funding innovations. This reflects in its history
of successful, completed transactions and high level of repeat
business. Additional information may be found at
www.tcaglobalfund.com
About Axiologix, Inc.
Axiologix, Inc. is an International Technology and Services
Organization focused on delivering Cloud-based Products and
Services to small and medium sized businesses primarily in
the United States and to operators
globally. Axiologix is headquartered in Florida, with international operations in
Dublin, Ireland. Additional
information may be found at www.axiologix.net
This press release contains forward-looking statements. Words
such as "expects", "intends", "believes", and similar expressions
reflecting something other than historical fact are intended to
identify forward-looking statements, but are not the exclusive
means of identifying such statements. These forward-looking
statements involve a number of risks and uncertainties, including
the timely development and market acceptance of products and
technologies, the ability to secure additional sources of finance,
the ability to reduce operating expenses, and other factors
described in the Company's filings with the Securities and Exchange
Commission and the OTC Markets Group. The actual results that the
Company achieves may differ materially from any forward-looking
statement due to such risks and uncertainties. The Company
undertakes no obligation to revise or update any forward-looking
statements in order to reflect events or circumstances that may
arise after the date of this release.
SOURCE Axiologix, Inc.