OCEANVIEW, CA--(Marketwired - Jan 14, 2014) - Citadel EFT, Inc. (OTCQB: CDFT) announces that the Company has received written notice and a recent bank statement for $5,000,000.00 (Five Million USD) deposited on their behalf. These funds have been posted to provide a "Standby Letter of Credit" (SBLC) provider with proof of available funds.
A $200,000,000.00 (Two Hundred Million USD) SBLC will be issued by a top 25 Global Bank, transferred and monetized by active 3rd party credit facility located here in the United States with a top 5 US Bank. Post release of funds from the credit facility, Citadel will receive the $5,000,000.00 (Five Million USD) currently posted in the escrow account and an additional $24,000,000.00 (Twenty Four Million USD) from the credit facility. The balance of funds from the credit facility will be disclosed in forthcoming 8k announcements.
A company spokesman stated, "We are extremely pleased with this transaction as it will give us additional investment opportunities that shall ultimately assist Citadel in debt free purchases of targeted acquisitions and expansion in the financial sector."
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FORWARD LOOKING STATEMENT
CDFT cautions that statements made in the press release constitute forward-looking statements, and not guarantees of future performance, and the actual results or developments may differ materially from projections in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time the statements are made.