New America Energy Announces Non Equity Financing
ATLANTA, GA -- March 16, 2016 -- InvestorsHub NewsWire --
New America Energy Corp. (OTC: NECA), D.B.A. Title King, LLC, an
alternative financial service provider, announced today that the
Company has entered into a line of credit with an accredited
investor for up to One Hundred Thousand Dollars ($100,000.00).
The financing will take the form of a one year Non-convertible
Promissory Note and will be secured by the underlying titles of
future loans.
Jeffrey M. Canouse, CEO of New America, commented, This
financing is important because it eliminates the need to sell any
stock or other instruments convertible into stock, which would
normally be dilutive to our shareholders. I first mentioned the
Company was working on non equity financing several weeks ago and
Im excited to be able to deliver on this goal and I look forward to
executing our acquisition strategy as well.
As of March 15, 2016, the Company has approximately 780 million
common shares issued and outstanding, and is listed Current on OTC
Markets. The previously announced share retirement, currently being
processed will bring the outstanding shares to less than 720
million.
About New America Energy Corp
Based in Atlanta GA, through its title loan subsidiary, Title
King, LLC, provides short-term high interest loans to consumers
through the collateral use of car and truck titles. The Company
operates in the alternative financial services industry, providing
automobile title loans to consumers who own their vehicle free and
clear and need convenient and simple access to funds. Other
products offered in this industry include other forms of consumer
loans, check cashing, money orders and money transfers. Consumers
who use alternative financial services are often referred to as
"underserved" or "underbanked" by banks and other traditional
financial institutions. With store operations expected to expand
throughout the South East, Title King expects to provide short-term
loans to a wider reach of consumers. www.titlekingloans.com
Safe Harbor Statement:
Except for statements of historical fact, the matters discussed
in this press release are forward-looking, and are made pursuant to
the Safe Harbor provisions of the Private Securities Litigation
Reform Act of 1995. Statements made herein regarding the intent,
belief or current expectations of New America Energy Corp. are
forward-looking statements that reflect numerous assumptions, risks
and uncertainties, many of which are beyond our control, and any of
which could cause our actual future results to differ materially
from our stated expectations today. Prospective investors are
cautioned that our forward-looking statements are never guarantees
of future performance. Important factors currently known to
management that could cause our actual future results to differ
materially from those indicated in our forward-looking statements
today include our limited operating history, fluctuations in our
operating results, our ability to compete successfully and our
ability to attract necessary capital on satisfactory terms. Except
as required by applicable law, we undertake no obligation to update
or revise our forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated future events or
changes in our future operating results.