Monarch America Inc. Secures $1.5 Million Funding Commitment
WESTMINSTER, Colo., Dec. 11, 2014 /PRNewswire/ — Monarch America Inc. (CANK) (“Monarch America” or the “Company”) (f/k/a Cannabis Kinetics Corp.) is pleased to announce that the Company has entered into a $1,500,000 Drawdown Promissory Note Agreement (the “Agreement”).
Under terms of the Agreement, the investor has committed to provide $1,500,000 in new funding to Monarch America in exchange for promissory notes bearing an interest rate of 8% and repayable January 15, 2016. No new shares of Company stock will be issued in conjunction with the Agreement. Monarch America has already received $150,000 in funding from the Agreement and expects to drawdown the entire $1,500,000 financing facility prior to the end of January 2015.
“We are very pleased and appreciative that one of our earlier stage investors has agreed to increase their commitment to funding the Company’s future growth,” stated Eric Hagen, CEO of Monarch America Inc. “This non-dilutive injection of new capital will allow Monarch America to immediately push forward and accelerate our planned acquisition of the established The Big Tomato hydroponics and indoor garden supply business and expand it into other states while growing our coco coir operations, bringing new products to market, and launching a consulting component to our business model.”
Hagen concluded, “This milestone financing will put us in our strongest position ever to execute on our near and longer term growth initiatives. We look forward to continuing to work with our financial partners to expand our businesses and build shareholder value at Monarch America.”
Monarch America Inc. (f/k/a Cannabis Kinetics Corp.) files reports with the Securities & Exchange Commission on EDGAR and anticipates continuing to file such reports. The Company’s filings can be viewed at www.sec.gov.
Additional information regarding the Company can also be found on its website atwww.CannabisKinetics.com.
Cautionary Language Concerning Forward-Looking Statements
Statements in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Cannabis Kinetics Corp.’s filings with the Securities & Exchange Commission. As a reporting issuer with the Securities & Exchange Commission, Cannabis Kinetics Corp. files Quarterly and Annual Reports and other documents on EDGAR. We strongly urge all persons to read our filings at www.sec.gov, which are publicly available, in conjunction with this press release as we are in a highly regulated industry that requires thorough research prior to making any decision regarding a company, particularly an investment decision. In addition, such statements could be affected by risks and uncertainties related to Cannabis Kinetics Corp.’s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified management representatives, (iv) competition, pricing and development difficulties, (v) ability to fully implement our business plan as a result of being a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. Cannabis Kinetics Corp. does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Cannabis Kinetics’ expectations and estimates. Information on Cannabis Kinetics Corp.’s website does not constitute a part of this release.
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