GLUCOSE HEALTH, INC. SECURES REVOLVING LINE OF CREDIT
November 29 2017 - 7:15AM
InvestorsHub NewsWire
GLUCOSE HEALTH, INC. SECURES REVOLVING LINE OF CREDIT
Bentonville, AR -- November 29, 2017 -- InvestorsHub
NewsWire -- Glucose Health, Inc. (OTC:
GLUC) today confirmed it has secured the capital required to
finance the inventory associated with its expanded line-up of
Glucose Health® Diabetic-Friendly iced tea mixes. On November 22,
2017, Glucose Health, Inc. and Capital Consulting, Inc. of Delray
Beach, Florida executed a Revolving Line of Credit Agreement,
Promissory Note and Security Agreement (the “Revolving Line of
Credit”). The Revolving Line of Credit will additionally enable the
planned future expansion of distribution of new Glucose Health®
Diabetic-Friendly iced tea mixes, to additional retailers and
online marketplaces.
A key benefit of the Revolving Line of Credit, is it bridges the
time-interval between the purchase of raw materials needed to
manufacture Glucose Health® products and receipt of customer
payment. The Revolving Line of Credit is complimentary to the Citi®
Supplier Financing agreement signed with Citibank, N.A. last
October 2016, which has the effect of reducing the time-interval of
60 days or more between the issuance of a customer invoice by
Glucose Health, Inc. and receipt of payment, to just 7 days.
The Revolving Line of Credit has been secured on favorable terms,
including for shareholders. The terms provide for simple interest
of 10% payable monthly on outstanding loan balances. The maximum
outstanding loan balance is set initially, at $60,000. Only
inventory produced as a consequence of the Agreement, is subject to
the security provisions of the Agreement. The Agreement has no
provision for issuances of common stock, warrants, options or any
other similar arrangement dilutive to shareholders. There are no
points or finder’s fees. Glucose Health, Inc.’s sole transaction
cost, is responsibility for the payment of legal fees for
implementation of the Agreement.
Glucose Health, Inc. CEO Murray Fleming said, “this Revolving Line
of Credit means the entire production cycle for Glucose Health®
products – from purchase of raw materials through to final customer
payment – is now financeable (at favorable rates of
interest). It’s a great achievement this early in the
Company’s development and is another example of our ongoing
commitment to utilize only prudent, shareholder-friendly financing,
for growth.”
About Glucose Health, Inc. (OTC:
GLUC)
Glucose Health® Diabetic-Friendly Iced Tea Mix is the only iced tea
in America that is also a diabetic nutritional supplement. It is
enriched with six key micronutrients including, for
example, Vitamin B12 (cyanocobalamin). Long term use of diabetes
prescription medication, Metformin, has been linked in some
clinical studies to Vitamin B12 deficiency. It is further
enriched with Banaba Leaf, the most compelling of all plant
extracts utilized as a traditional remedy for diabetes. For
thousands of years, in Ayurvedic medicine in India, Banaba Leaf has
been indicated for diabetes. Additionally, every serving of Glucose
Health® Diabetic-Friendly Iced Tea Mix is a “Good Source of Fiber”;
containing Fibersol®-2, a unique 100% soluble fiber, clinically
proven to help slow the body’s absorption of dietary sugars and
fats and moderate rising after-meal blood glucose levels. Original
Glucose Health® Blueberry Tea Mix is sold nationwide at Walmart, in
the pharmacy "Diabetic Supplies" aisle, at Walmart.com and is also
available at Amazon. New Glucose Health® Iced Tea Mix in
Natural Lemon, Peach and Mixed Berry Flavors are arriving in early
2018.
Glucose Health, Inc. is publicly-traded with ticker symbol OTC:
GLUC.
Contact:
Glucose Health, Inc.
Murray Fleming
(888) 987-6315
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