Moro Corporation Completes New Financing Arrangement

Moro Corporation (OTCQX: MRCR) has obtained a $12,000,000 revolving working capital financing and $1,500,000 term loan arrangement with a major international lending institution. The new financing replaces one with another lending institution. The interest rate on the working capital financing is 30 day LIBOR plus 225 basis points which translates into a current interest rate of 2.40%; the interest rate for the term loan is slightly higher.

The new financing is greater in amount and has more flexible collateral requirements than previous lending arrangements. The new financing will be used to finance existing and expected increases in working capital needs including possible acquisitions.

Moro Corporation is a holding company engaged in residential HVAC contracting (Appolo Heating, Schenectady, NY); commercial electrical contracting (Rondout Electric, Poughkeepsie, NY); HVAC duct fabricating (J & J Sheet Metal Works, Vestal, NY); miscellaneous steel contracting (Titchener Iron Works, Binghamton, NY); and construction steel fabrication and distribution (J.M. Ahle Co., South River, NJ and Whaling City Iron, New Bedford, MA).

Moro Corporation, founded in 2000, is a construction products and services business operating in eastern New York State, Massachusetts, Connecticut, and Pennsylvania; and throughout New Jersey and metropolitan New York City.

Sales for 2014 are expected to be about $75,000,000. The Company continues to operate at a profitable level. Customer demand is in a growth mode.

For more information, contact David W. Menard, President and CEO, at 484-367-0300, fax 484-367-0305.

Statement under the Private Securities Litigation Reform Act: This press release contains certain forward-looking statements regarding, among other things, the anticipated profitability and continued growth of the company. Those statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by the statements, including the continued ability of the company to generate operating profits, the lack of continued demand for the company’s products, the availability of governmental funding for its projects, the ability to locate and acquire suitable acquisition opportunities, and if acquired, the failure of any such businesses to generate operating profits.

Moro CorporationDavid W. Menard, President and CEO, 484-367-0300Fax: 484-367-0305

Moro (PK) (USOTC:MRCR)
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