Avalanche International Issues Investor Update on J.S. Technologies, Inc.
Company Issues Maker of Suhr Guitar Short-Term Financing for Working Capital
LAS VEGAS, NV -- (Marketwired) -- 08/11/15 -- Avalanche International, Corp (OTC PINK: AVLP), announced today that it entered a short-term financing agreement for a total not exceeding $400,000 this past Tuesday, August 4, 2015 with J.S. Technologies, Inc.. J.S. Technologies, Inc. is the maker of the world-renowned brand, Suhr guitar, amplifiers, and other musical electronics and equipment, which will use the funds as a supplement to its working capital. Avalanche International, Corp., the holding company that specializes in consumer products, stated the funding is a step forward in the Company's core strategy to purchase J.S. Technologies, and cited today that the Note was one of a series of financial transactions scheduled.
The Company stated that its ability to fully fund the Note, as well as its ability to close the intended acquisition of J.S. Technologies is dependent upon obtaining additional financing through debt and/or equity financing arrangements. Although the management of the Company is working to secure the additional capital required to close these transactions, there is a risk that such additional financing will not be available to the Company on acceptable terms or in the amounts required. The Company recommends any investors to read its 8K report filed with the Securities Exchange Commission on August 6, 2014 for further information.
Phil Mansour, President and CEO of AVLP, said, "This transaction is a symbol of our confidence in J.S. Technologies, Inc. and the growth potential of the enterprise."
The Company also announced that it signed an Amendment to the Letter of Intent dated June 12, 2015 regarding its purchase of all of the issued and outstanding capital stock of J.S. Technologies (the "LOI"). The original LOI required that the parties settle on a purchase price for affiliated company S&J Design Labs, LLC within thirty days of the LOI. The Amendment allows the parties until the closing date of the acquisition to set a purchase price for S&J Design Labs, LLC.
The Company's web domain is www.AvalancheInternationalCorp.com. The Company recommends any interested investor read the public filings and reports available on the Company's web site as well as www.sec.gov, www.OTCMarkets.com and many other financial news reporting web sites and portals.
About Avalanche International Corp.
Avalanche International Corporation is a Nevada corporation and holding company, publicly traded on the OTC Markets platform with the ticker symbol, (OTC PINK: AVLP). The Company currently has one wholly owned subsidiary, Smith and Ramsay Brands, LLC, a manufacturer and distributor of eLiquids for the burgeoning Vape marketplace. The Vape marketplace serves as an alternative to cigarettes and other traditional tobacco smoking habits and has been rapidly expanding over the past 5 years. The Company manufactures its signature brand of eLiquid, Smith and Ramsay, a line that features all natural flavors and will be produced in an environment formerly FDA approved. The Company's goal is to maintain a high standard of quality insuring that the environment, its processes and its procedures continue to meet or exceed guidelines of the FDA, and are in line with ISO and cGMP standards.
Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Source: Avalanche International Corp
Released August 11, 2015