SALT LAKE CITY, UT–(Marketwired – Oct 21, 2015) – Sack Lunch Productions, Inc. (OTC PINK: SAKL), a publicly traded entertainment company with operations in event management and film, announced that it has closed a $5,000,000 Senior Secured Credit Facility with TCA Global Credit Master Fund, LP (TCA). SAKL plans to successfully integrate its newly acquired operations under Springbok Holdings, LLC, using the TCA financing. Springbok Holdings, LLC operates Color Me Rad™ and The Dirty Dash™, and holds the rights to operate Slide the City™ in 60 cities across the US.
The Senior Secured Credit Facility with TCA will allow SAKL to prepare for an outstanding 2016 season. The $5M credit facility will provide the capital necessary to launch a projected 151 corporate events in 2016 amongst all of the company’s brands, exclusive of franchise held events, including: Color Me Rad™, Slide the City™, The Lantern Fest™ and The Dirty Dash™.
SAKL’s fulfillment and warehouse facilities are prepared for 2016 with over $1M worth of merchandise and supplies, which were obtained as a result of the initial Springbok acquisition. SAKL made nearly all of the major capital expenditures in 2015 necessary to host nearly all of the projected events in 2016.
SAKL’s received an initial draw down of $1.8M from the TCA Credit Facility; as a result SAKL and its subsidiaries refinanced approximately $750,000 of debt that was predominately used to consummate the Springbok acquisition. In addition, SAKL has allocated funds to complete audited financial statements for filing a registration statement with the Securities and Exchange Commission. SAKL intends to file the registration statement by April 15, 2016.
Richard Surber, CEO, commented, “SAKL’s ability to secure this initial round of funding (with TCA) coupled with the option to draw down additional funding in the future is a game changer for SAKL. From my perspective, the Springbok acquisition was a once in a lifetime opportunity that my team had to execute upon. The TCA funding provided the capital necessary to execute upon the opportunity. SAKL is now operating at a whole new level.”
TCA’s Global Credit Master Fund, LP 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 more information about TCA Fund Management Group Corp., please visit:www.tcaglobalfund.com.
For more information about Sack Lunch Productions, Inc., please visit:www.sacklunchproductions.com, www.slidethecity.com, www.thelanternfest.com,www.thedirtydash.com, and www.colormerad.com to find the next event in your area.
SAKL strongly encourages the public to read the above information in conjunction with its reports filed at www.otcmarkets.com. SAKL will require a significant influx of capital in order to effectively execute upon its various operational plans. The actual results that SAKL may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Investors should not invest more than they can afford to lose in penny stocks.
Forward Looking Statements
This information may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). TCA and SAKL claim the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,” “projects,” “expects,” or “anticipates,” and do not reflect historical facts.
Specific forward-looking statements could be in reference/ implication, but not limited to/of: impact of the company’s expansion plan, and new business development success, future financial results, development and acquisition of new product lines, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The information contained herein does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product. Any such offer may only be made by means of delivery of an approved confidential offering memorandum and only in those jurisdictions where permitted by law. There is no guarantee that the investment objectives of the Fund will be achieved. The performance representations contained herein are not representations that such performance will continue in the future. There may be sharp differences between prior performance results; such performance should not be construed as an indicator of future performance. Performance information and/or results, unless otherwise indicated, are un-audited and their appearance reflects the estimated returns net of all expenses, including the management and performance fees similar to those of the Fund. The information contained herein does not take into account the particular investment objectives or financial circumstances of any specific person who may receive it. Before making an investment, prospective investors are advised to carefully review the offering memorandum with their advisers to determine whether investing in the Fund is suitable. An investment in the Fund is speculative and involves a high degree of risk. Opportunities for withdrawal and transferability of interests can be restrictive. As a result, investors may not have access to capital except according to the terms of withdrawal specified within the confidential offering memorandum and other related documents.