SOURCE: Global Boatworks Holdings Inc.

Global Boatworks Holdings Inc.

August 30, 2016 08:00 ET

Global Boatworks Announces Funding Deal

Global Boatworks Is Pleased to Announce That it Has Closed on a $500,000 Round of Financing

POMPANO BEACH, FL--(Marketwired - Aug 30, 2016) - Global Boatworks Holdings Inc. (OTC PINK: GBBT), builder of luxury floating homes, is pleased to announce the closing of an initial round of financing with Tonaquint Inc. The financing calls for an immediate payment of $250,000 minus closing costs and a line of credit for another $250,000.

Global Boatworks CEO Robert Rowe stated, "Global Boatworks is very excited about our new relationship with Tonaquint. This new financing package will take care of virtually all of our short term funding needs." Construction of the company's first Florida-based luxury vessel "Luxuria 1" continues to progress. The enormous floor to ceiling windows that make up a great part of the floating home are scheduled to be installed this week. The interior walls and partitions are also now under construction.

The "Luxuria 1" is currently under construction at the Lauderdale Marine Center in Fort Lauderdale, Fl. Global Boatworks builds, rents, and sells custom high quality Floating Homes. About Global Boatworks, LLC: Global Boatworks, LLC ("the Company") is a multifaceted boat-building and vacation-rental company that operates out of Pompano Beach, Florida. The Company has previously built a highly successful rental houseboat in Boston, and currently has designed a state-of-the-art luxury floating home that will launch in the South Florida market.

Global Boatworks will immediately build two flagship showcase models of its modern "Luxuria" floating home, which features: Floor-to-ceiling windows; a chef-quality kitchen; spacious bedrooms; spa-like bathrooms; big-screen TV; two large decks; and two outboard engines. They will be docked in the exclusive marinas in South Florida and offered for sale and short-term rentals for vacationers, business travelers, and special events.

Statements regarding financial matters 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 statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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