Sack Lunch Productions Closes a $5M
Secured Credit Facility with TCA Fund Management Group
Corp
SALT LAKE CITY, UT -- October 21, 2015
-- InvestorsHub NewsWire -- Sack Lunch Productions,
Inc. (OTC PINK: SAKL),
a publicly traded entertainment company with
operations in event management and film, announced that it has
closed a $5,000,000 Senior Secured Credit Facility
with TCA Global Credit Master Fund,
LP (TCA). SAKL plans to successfully integrate
its newly acquired operations under Springbok Holdings, LLC, using
the TCA financing. Springbok Holdings, LLC
operates Color Me Rad™ and The Dirty Dash™, and holds the rights to
operate Slide the City™ in 60 cities across the
US.
The Senior Secured Credit Facility with TCA
will allow SAKL to prepare for an outstanding 2016 season. The $5M
credit facility will provide the capital necessary to
launch a projected 151 corporate events in 2016 amongst
all of the Company’s brands, exclusive of franchise held events,
including: Color Me Rad™, Slide the City™, The Lantern Fest™ and
The Dirty Dash™.
SAKL’s fulfillment and warehouse facilities
are prepared for 2016 with over $1M worth of merchandise and
supplies, which were obtained as a result of the initial Springbok
acquisition. SAKL made nearly all of the major capital expenditures
in 2015 necessary to host nearly all of the projected events in
2016.
SAKL’s received an initial draw down of $1.8M
from the TCA Credit Facility; as a result SAKL and its subsidiaries
refinanced approximately $750,000 of debt that was predominately
used to consummate the Springbok acquisition. In addition, SAKL has
allocated funds to complete audited financial statements for filing
a registration statement with the Securities and Exchange
Commission. SAKL intends to file the registration statement by
April 15, 2016.
Richard Surber, CEO, commented, “SAKL’s
ability to secure this initial round of funding (with TCA) coupled
with the option to draw down additional funding in the future is a
game changer for SAKL. From my perspective, the Springbok
acquisition was a once in a lifetime opportunity that my team had
to execute upon. The TCA funding provided the capital necessary to
execute upon the opportunity. SAKL is now operating at a whole new
level.”
TCA’s Global Credit Master Fund,
LP 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 helps to fill the underserved small-cap lending gap, which
exists in these markets.
For more information about TCA Fund Management
Group Corp., please visit:
www.tcaglobalfund.com.
For more information about Sack Lunch
Productions, Inc., please visit: www.sacklunchproductions.com,
www.slidethecity.com, www.thelanternfest.com,
www.thedirtydash.com,
and www.colormerad.com
to find the next event in your
area.
SAKL strongly encourages the public to read
the above information in conjunction with its reports filed at
www.otcmarkets.com. SAKL
will require a significant influx of capital in order to
effectively execute upon its various operational plans. The actual
results that SAKL may achieve could differ materially from any
forward-looking statements due to such risks and uncertainties.
Investors should not invest more than they can afford to lose in
penny stocks.
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 SAKL 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.
CONTACT:
Richard Surber, President
Sack Lunch Productions, Inc.
801-575-8073 Ext.111
Richard@sacklunchproductions.com