SOURCE: WPCS International Inc

WPCS International Inc

June 10, 2015 09:00 ET

WPCS Secures $1 Million Line of Credit From First Northern Bank

Facility Will Support Suisun Operations

SUISUN CITY, CA--(Marketwired - Jun 10, 2015) - WPCS International Incorporated (NASDAQ: WPCS), which specializes in contracting services for communications infrastructure domestically and natural gas and petroleum transmission pipelines internationally, announced today that on June 5, 2015 its subsidiary, WPCS International - Suisun City, Inc., had entered into an asset-based revolving credit line agreement with California-based First Northern Bank of Dixon ("First Northern") which provides a $1,000,000 line of credit for its Suisun Operations.

According to Interim CEO Sebastian Giordano, "We are very pleased to announce this new banking relationship with First Northern. We believe that this is yet another positive step in the Company's turnaround, driven primarily by both the profitable results in the Suisun Operations and the success of our corporate restructuring initiatives."

About WPCS International Incorporated
WPCS provides contracting services to the public services, healthcare, energy and corporate enterprise markets in the United States and China. For more information, please visit www.wpcs.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements with respect to the Company's future growth opportunities and strategic plan. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Contact Information

  • INVESTOR CONTACT:
    WPCS International Incorporated
    David Allen
    Chief Financial Officer
    Phone: 707.759.6008
    Email: Email Contact