WEST PALM BEACH, FL--(Marketwired - Jan 24, 2017) - iTeknik Holding Corporation (OTC PINK: ITKH) announced that on December 30th, 2016 it had secured a $15 million dollar credit facility from institutional lender, TCA Global Master Credit Fund, LP to be used primarily for making acquisitions.
TCA Global Master Credit Fund, L.P. and iTeknik Holding Corporation agreed to terms and closed on the $15 million facility on the last business day of the year, December 30, 2016. The facility is for 20 months and will provide multiple advances as requested and approved for individual or multiple acquisitions.
Fred Wicks, the Company's Chairman and CEO said, "With access to the amount of capital provided under this facility we believe that we will be able to secure a number of significant acquisitions to build shareholder value. In conjunction with securing this funding we have developed a new strategy to focus in the media and advertising space. We plan to make an acquisition that will give us base to build from in the media and advertising space and then expand through organic growth and future acquisitions. I also want to thank all of the shareholders who have stayed with us through this long refocusing process."
iTeknik Holding Corporation (OTC PINK: ITKH) trades on the OTC Pink tier of the OTC Market. For quotes and market information on the company, visit http://www.otcmarkets.com/stock/ITKH/company-info.
About iTeknik Holding Corporation
iTeknik Holding Corporation's strategy (OTC PINK: ITKH) is to acquire fundamentally sound companies that are market accepted, scalable and demonstrate a quantifiable value proposition. Our focus is in companies that have strong market presence, brand awareness and talented and dedicated management teams with the potential to achieve exceptional performance over time in the Marketing, Advertising and Digital Media space. iTeknik lends its operational support, management approach and financial resources to these companies to achieve improvements in both revenue and earnings growth and positioning in the marketplace.
Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.