SOURCE: Nutroganics, Inc.

Nutroganics, Inc.

February 11, 2014 09:00 ET

Nutroganics (NUTT) Secures $500,000 Financing Facility With Crestmark Bank

BETHESDA, MD--(Marketwired - Feb 11, 2014) - Nutroganics, Inc. (PINKSHEETS: NUTT) (the "Company") announced today that its wholly owned subsidiary, Silverbow Honey, has entered into a three year financing facility with Crestmark Bank under which Crestmark will make available up to $500,000 of working capital to Silverbow. The capital will be used to support Silverbow's growth, including the recently announced alliance with Clark's Honey Farm of Colorado.

"We are pleased to be working with Crestmark on this new financing," said David Sackler, CEO of Nutroganics. "Given Crestmark's size and stability, their financing solutions can grow with us as our financing needs increase." 

For further information, please contact David Sackler, Nutroganics, Inc., (516) 513-5113, dsackler@nutroganics.com and/or www.nutroganics.com.

ABOUT NUTROGANICS

Nutroganics, Inc. acquires and grows revenue-generating businesses operating in the consumables segment of the healthy lifestyle marketplace, and seeks to capitalize on synergies from manufacturing through distribution. Nutroganics' wholly owned subsidiary, Silverbow Honey Company, was founded in 1945, and is a producer and packager of natural and organic honey products, with its Silverbow brand distribution in national grocery, club, and mass merchant retailers, and the Clark's Honey Farm brand distribution in regional and national specialty, and natural/organic food retailers, www.nutroganics.com.

ABOUT CRESTMARK

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, factoring and equipment financing. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with locations in California, Florida, Louisiana, Tennessee, New York, and Illinois; representatives in Alabama, Maryland, North Carolina, and Texas. www.crestmark.com

Forward-Looking Statements:

This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

Contact Information

  • Contact:
    David Sackler
    516-513-5113