SOURCE: National Automation Services, Inc.

National Automation Services, Inc.

January 06, 2011 14:26 ET

National Automation Services, Inc. Announces a Capital Restructuring and Business Expansion Agreement With KCGI

LAS VEGAS, NV--(Marketwire - January 6, 2011) -  National Automation Services, Inc. ("NAS") (www.nasautomation.com) (PINKSHEETS: NASV) announced today that the Company's Board of Directors has approved a Letter of Interest from KCGI, a privately held strategic growth capital firm. KCGI, a privately held Nevada LLC, would provide a Convertible Capital Debt Facility for up to twenty million ($20,000,000.00) dollars. The capital facility types are comprised of: Working Capital, Letter of Credit, Purchase Order Financing, Accounts Receivable Financing, Acquisition Financing, and Bridge Capital Required. For KCGI Media, contact Tim Ayers at: 101 California Street, Suite 2450, San Francisco, CA 94111, Phone: 800-513-7568 or email at: kcgipress@kcg-corp.com.

Phase one of the financing establishes a line of credit and the settling of outstanding debt with the Company's creditors. This has been in progress for some time and is expected to positively impact the Company's bottom line and would also promptly clean almost all debt off the company's balance sheet in the first quarter of 2011.

This, as announced in early December 2010, will permit the Company to move steadfastly in execution of its business expansion plan of acquiring new targeted automation firms throughout the U.S. in the first quarter of this year.

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Join our NAS E-News Connection and our official NAS Facebook Fan Page for the most recent news. Management also encourages investors to read the Company's Annual 10-K filing as well as all required documents the Company files with the SEC. Such documents can be obtained on the SEC website at www.sec.gov or on the Company's website at www.NASAutomation.com.

About National Automation Services, Inc.:

National Automation Services, Inc., headquartered in Nevada, a Corporation with wholly owned subsidiaries in Arizona and Nevada, designs, manufactures, and programs Automation and Control Systems. View our technical skills, project history, and key personnel at www.NASAutomation.com

Contact Information

  • CONTACT INFORMATION

    National Automation Services, Inc.
    Marketing Manager
    2470 Saint Rose Pkwy Ste 314
    Henderson, NV 89074
    Phone: 702-487-NASI (6274)
    Email Contact