FT LAUDERDALE, FL--(Marketwired - Aug 3, 2016) - PotNetwork Holdings Inc. (OTC PINK: POTN) is pleased to announce that it has secured a $2,000,000 revolving line of credit with TCA Global Fund of Aventura, Florida. The Company has received a signed term sheet, and plans to move forward with its strategy to recapitalize and set Sunrise Auto Mall, marketed under the service mark "Sign-n-Drive," on a fast track to profitability with a bolstered revenue generating position.
"Management is resolute on establishing a good foothold in this industry, as opportunities continue to evolve; especially with advancements in technology, and the growing rate of commerce in the online retail automotive market. We are embarking on great advancements and plan to capitalize on the momentum we have strived to build. Having funding in place to move forward considerably strengthens our ability to meet the high demands of the retail auto market," stated Gary Blum, Chief Executive Officer, PotNetwork Holdings, Inc.
With established funding the Company will be able to enable the efficient execution of directed opportunities that can contribute substantially to the outlook and future revenues of the Company, while diligently advancing on the development of a modernized business model, designed to enable operations with reduced overhead and increased profit margins.
TCA's Global Credit Master Fund is a short duration, absolute return niche Credit fund specializing in senior secured lending and advisory services to small, mainly listed companies predominately in the U.S., Canada, the United Kingdom and Australia. This specialist business helps to fill the underserved small-cap lending gap which exists in these markets.
For details about TCA Global Fund visit: www.tcaglobalfund.com
The Company recently announced that upon FINRA approval, the Company will officially change its name to SND AUTO GROUP INC. In conjunction with the corporate name change, the Company has also applied for a new symbol, "CARS." This rebranding initiative is a necessary preliminary milestone as the Company evolves. A series of announcements will be forthcoming regarding recent advancement as developments continue.
About PotNetwork Holdings Inc.: PotNetwork Holdings Inc. is a publicly traded company with one wholly owned subsidiary, Sunrise Auto Mall, Inc. Sunrise Auto Mall, Inc. is a first-rate pre-owned auto dealership, launched in June of 2014, as an operation geared toward enabling people challenged with bad or no credit in securing quality transportation while simultaneously rebuilding the client's credit. The company has developed a highly profitable business model around the continually rising subprime lending industry.
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