CHEYENNE, WY--(Marketwired - Jan 19, 2017) - Aircraft manufacturer PM&E, Inc. (OTC PINK: PMEA) announced today that the company has secured a 10 million dollar funding package to support the company's aggressive growth and expansion plans.
CEO Joseph Bourne stated, "All of the pieces are falling into place for a very profitable 2017. We have secured a 10 million dollar funding package for growth and expansion through GPL Ventures, LLC. With this new funding we will be able to complete the semi-automated manufacturing plant which will allow us to expand our work force, complete up to 15 aircraft per month and reach our forecast of 100 aircraft completed in 2017."
GPL Ventures is a leading alternative investment manager focused on investing in early-stage and middle-market companies. Alexander Dillon, managing member of GPL Ventures, stated, "We have a lot of confidence in PM&E, Inc. and their management team. We are excited about their aircraft product line and the products of DiNelly EXOGYRO as well. We are excited to be working with and supporting a company with this great equity story and long term potential."
Mr. Bourne continued, "We are very pleased with the support of GPL and their professionalism and experience in speeding up the finalization process to get this funding package arranged. I feel it is the beginning of a new era. It is without a doubt the debut for many positive developments to come."
PM&E, Inc. is an aircraft company with a contracted manufacturing facility located in Sousse, Tunisia. The company is in the process of implementing a modern manufacturing plant in Tunisia and securing a facility for aircraft assembly in Wyoming. The company manufactures their signature line of EVADA Aircraft. Through a strategic partnership, DiNelly EXOGYRO also manufactures their commercial ultra-light gyrocopters at the same facility in Tunisia creating synergies and cost savings for both companies through a shared resources and revenues agreement.
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Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. PM&E Inc. cautions readers not to place undue reliance upon any such forward looking statements, which speak only as of the date made. PM&E Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based.