SOURCE: Banjo & Matilda

Banjo & Matilda

July 06, 2015 09:40 ET

Banjo & Matilda Secures $500,000 Investment

LOS ANGELES, CA--(Marketwired - July 06, 2015) - Banjo & Matilda, Inc. (OTCQB: BANJ) ("Banjo & Matilda" or the "Company"), an Australian e-commerce premium lifestyle brand, best known for its contemporary women's cashmere, announces the investment of $500,000 into the company, repayable over two years. The capital will be used for a number of growth initiatives designed to drive and support sales growth.

Forefront Capital Markets served as placement agent for the transaction and will provide corporate advisory services to the Company including assistance with additional capital raisings.

"This investment will fund several key initiatives designed to drive and support sales growth. Key initiatives include investing in e-commerce marketing, expanding the number of wholesale markets and therefore retailers globally, and launching additional products to grow the average spend per customer. This will assist in positioning the company for its next phase of growth," stated Ben Macpherson, CEO of Banjo & Matilda.

Banjo & Matilda has just reported three record consecutive quarters of growth. The most recent March 2015 quarter recording sales growth on a like-for-like basis of 87% for the 9 months ending March 31, 2015 compared to the same period last year.

The company's e-commerce channel continues to gain traction with visitors increasing 141% through the 9 months to March 15, 2015 compared with the prior year. This is organic growth, without investment in customer acquisition programs or advertising.

The company recently relocated its head office to Los Angeles, California, to focus on increasing US domestic sales that now account for over 1/3rd of total sales. The company will now use its US base to target additional wholesale and e-commerce distribution in Northern Hemisphere markets.

About Banjo & Matilda

Banjo & Matilda, Inc., Banjo & Matilda is an Australian premium e-commerce lifestyle brand, known for its contemporary women's cashmere. Inspired by the iconic Bondi Beach surroundings of its creative studios, Banjo & Matilda launched its first knitwear collection in 2008. Big on quality, small on pretense, and known globally for their fun statement sweaters and luxury cashmere basics, Banjo & Matilda is discreetly luxurious, yet able to capture the essence of beach culture in a range of apparel made with supreme quality and integrity. The brand has a rapidly growing loyal global following, is quickly being stocked in major and specialty retailers around the world, and is sold through its online store Additional information about Banjo & Matilda can be found at the Company's corporate website

Forward-Looking Statement

Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, growth in the number of stores that will carry its products, increases in its sales and financial results, are examples of forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, economic trends and conditions, trends in the fashion and retail industries, the acceptance of new product designs, inherent discrepancy in actual results from estimates, projections and forecasts made by management and other factors not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by forward-looking statements made by the Company. The forward-looking statements contained herein are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

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