Full Circle Comments on Trading Halt of Advanced Cannabis Solutions, Inc.
March 27 2014 - 2:11PM
Business Wire
Full Circle Capital Corporation (NASDAQ:FULL) (“Full Circle
Capital”), in response to numerous investor inquiries, today issued
the following statement on the trading halt of Advanced Cannabis
Solutions, Inc., a portfolio holding of Full Circle Capital
Corp.
Full Circle Capital Corp. entered into a
purchase agreement with Advanced Cannabis Solutions, Inc. to fund
$30.0 million of senior secured convertible notes in January 2014.
In conjunction with the closing of this agreement, Full Circle
Capital purchased for $500,000 warrants to purchase 1.0 million
shares of currently unregistered common stock of American Cannabis
stock at a $5.50 per share exercise price. To date, these warrants
have not been exercised, transferred or sold. Further, none of the
senior secured convertible notes have been funded and Full Circle
Capital retains the contractual right to fund these notes at its
sole and absolute discretion.
About Full Circle Capital
Full Circle Capital Corporation (Nasdaq:FULL) is a Rye Brook,
New York based closed-end investment company that has elected to be
treated as a business development company under the Investment
Company Act of 1940. Full Circle Capital lends to and invests in
senior secured loans and, to a lesser extent, mezzanine loans and
equity securities issued by lower middle-market companies that
operate in a diverse range of industries. Full Circle Capital’s
investment objective is to generate both current income and capital
appreciation through debt and equity investments. For additional
information visit the company’s website, www.fccapital.com.
Forward-Looking Statements
This press release contains forward-looking statements which
relate to future events or Full Circle Capital's future performance
or financial condition. Any statements that are not statements of
historical fact (including statements containing the words
"believes," "plans," "anticipates," "expects," "estimates" and
similar expressions) should also be considered to be
forward-looking statements. These forward-looking statements are
not guarantees of future performance, condition or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in Full Circle Capital's filings with the Securities and
Exchange Commission. Full Circle Capital undertakes no duty to
update any forward-looking statements made herein.
Full Circle Capital CorporationJohn Stuart, Chairman &
Co-CEO914-220-6300jstuart@fccapital.comorInvestor
Relations:Lippert/Heilshorn & AssociatesStephanie
Prince/Jody Burfening212-838-3777sprince@lhai.com
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