TORONTO, ON--(Marketwired - Oct 30, 2013) - Axxess Pharma Inc. (PINKSHEETS: AXXE) a specialty pharmaceutical and nutritional supplements company is pleased to announce they have received a signed term sheet from TCA Global Credit Masters Fund (TCA) to secure a US $4 million revolving line of credit. Closing is anticipated within 14 days, pending final due diligence from Axxess Pharma Inc. and TCA. The revolving line of credit will enable Axxess Pharma to generate significant revenue in the near-term with high gross profit margins.
This is expected to be the beginning of a long-term partnership between TCA Global and Axxess Pharma which will assist Axxess Pharma's capital needs as sales continue to grow. The line of credit will be used to aggressively develop, market and sell its line of pain relief and muscle recovery products worldwide, as well as develop and market a vitamins and minerals line under the TapouT brand name. Management will also release a second wave of TapouT branded products which will be a premium vitamins line.
"This is an exciting time for our company. The $4 million revolving line of credit with TCA will allow our company to expand worldwide, fulfil current orders and quickly become a multi-million dollar revenue generating company," said Dr. Bagi, President of Axxess Pharma Inc." Dr. Bagi further stated, "In addition to our current TapouT products, we have additional products in the pipeline for release in 2014."
About TCA Fund Management Group:
TCA Fund Management Group (www.trafcap.com) as the Investment Manager for TCA Global Credit Master Fund L.P. acts as an advisor to many small companies from its offices in the United States, United Kingdom, and Australia. TCA is a short duration, absolute return fund specializing in senior-secured lending to small, mainly listed companies in the U.S., Canada, Western Europe, and Australia. The team has a level of domestic and cross-border expertise, long-standing experience with funding innovations, as is reflected in the number of transactions completed. This is a specialist business with an investment approach that fills an important finance gap in many leading markets. TCA provides a unique conduit for investors seeking uncorrelated returns in the small cap debt universe.
About Axxess Pharma Inc.:
Axxess Pharma Inc. is a Nevada Corporation operating through its wholly-owned Canadian Subsidiary: Axxess Pharma Canada Inc., headquartered in Toronto. Axxess is a specialty Health Care Products Company dedicated to improving health and quality of life by offering select medicines, nutritional supplements and over the counter remedies all across the Americas. Axxess's goal is to bring additional products to the market and provide new, innovative options for better health spanning areas such as high cholesterol, blood pressure, acute pain, to optimal health management through improved nutritional supplements.
For more information, please visit www.axxesspharmainc.com, or contact Investor Relations at (973) 351-3868.
Safe Harbor Statement
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.