BETHESDA, Md., Aug. 30, 2013 /PRNewswire/ -- Microlog
Delaware Corporation (OTC: MLOG) (the "Company") announced today
that it has closed on $300,000 of
financing for the Company. The financing took the form
of a $300,000 convertible promissory
note, convertible at the holder's option into Company restricted
common stock at a fixed price of $.12
per share. The term of the note is 18 months and it
carries a 9% coupon. The private investor also received
300,000 warrants to purchase Company common stock at $.12 per share.
"We are pleased to announce the closing of this important
financing for our Company," said David
Sackler, CEO of the Company. "The financing supports
our wholly owned subsidiary Silverbow with working capital and
strengthens our corporate liquidity. We are now looking for
additional acquisitions in the natural and nutritional foods space
to complement Silverbow as we grow our Company."
Forward-Looking Statements:
This release may contain forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors, which may cause the actual
results, performance, or achievements of Microlog to be materially
different from any future results, performance, or achievements
expressed or implied by the forward-looking statements. We
undertake no obligation to update any forward-looking statements to
reflect events or circumstances after the date of such
statements.
Media Contact:
David Sackler, CEO
(516) 513 5113
dsackler@nutrabev.com
SOURCE Microlog Delaware Corporation