SOURCE: Winning Brands Corporation

June 30, 2008 12:04 ET

Winning Brands Access to Accounts Receivable Financing Increased to $500,000

KIND™, CLEAN1™, TrackMoist™ and All Other Winning Brands Products Now Covered

BARRIE, ON--(Marketwire - June 30, 2008) - Winning Brands Corporation (PINKSHEETS: WNBD) (FRANKFURT: WMU) (www.WinningBrands.ca) has received approval by Bibby Financial Services (http://www.bibbyfinancialservices.com/about_us.aspx) for a $250,000 Accounts Receivable credit facility for its Winning Brands' subsidiary Niagara Mist Marketing Ltd that is in addition to the existing $250,000 announced September 6, 2007. The earlier facility was used primarily for the financing of Winning Colours™ Stain Remover receivables through distribution affiliate XMG Corporation. The new facility will support Winning Brands' rollout of KIND™ Laundry Products, CLEAN1™ Outdoor Cleaner. TrackMoist™ Dust Suppression Solution and other products.

The purpose of an accounts receivable financing facility is to provide Winning Brands with cashflow from sales of its products more rapidly, accelerating access of up to 85% of sales invoices within 48 hrs. of the delivery of goods compared with waiting for the traditional 30-90 day term period. Winning Brands customers however still enjoy traditional terms because Bibby carries the receivable for the duration of the term instead. Winning Brands CEO Eric Lehner comments that the additional facility reflects Winning Brands' desire to complement capitalization initiatives with standard commercial instruments where possible for a nuanced approach to its needs. "We appreciate this vote of confidence in Winning Brands by a financial organization of Bibby's stature," says Lehner. "This facility will be particularly helpful when the size of purchase orders increases in the U.S. retailing environment."

Winning Brands Corporation is an environmental company. Its mission is to replace hazardous chemicals in widespread use with safer alternatives, with initial emphasis on cleaning products. Main production is at the Grand Rapids facility of Surefil, LLC with some sizes and prototypes being made at Niagara Mist's St. Catharines, Ontario facility.

Certain statements in this news release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Winning Brands Corporation (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; and (iii) competitive factors and developments beyond the Company's control. Winning Colors, Winning Colours, KIND, CLEAN1 and TrackMoist are trademarks of Niagara Mist Marketing Ltd.

Contact Information

  • Information:
    Winning Brands Corporation
    Office Direct (705) 737-4062
    11 Victoria Street, Suite 220A
    Barrie, Ontario, Canada L4N 6T3
    News@WinningBrands.ca