HearAtLast Holdings, Inc. Updates Shareholders on Status of Bridge Financing
01 Março 2010 - 6:00PM
Marketwired
HearAtLast Holdings, Inc. (PINKSHEETS: HRAL), a leading provider of
suitable affordable solutions to clients with hearing needs in the
billion dollar hearing loss market, announced today the status of
their bridge financing obtained from First Equity PTE, Ltd.
On January 22, 2010 HearAtLast announced that it had obtained
bridge financing allowing the company to continue its expansion
plans of HearAtLast Hearing Stores across Canada. During this time
the Company's CEO, Matthew Sacco, has been working closely and
diligently with First Equity PTE, Ltd. in finalizing the details of
this financing as well as increasing the amount from $1.5M to
$2.5M.
The amount of financing from this bridge will not only allow the
Company to continue to strengthen their ongoing operations, but
will also address the next phase of store openings within the
Wal-Mart footprint. This also provides sufficient working capital
required to successfully operate the HearAtLast Hearing Stores. "We
are very pleased in the confidence and interest that First Equity
has shown in the HearAtLast business model which is displayed by
their increase in the amount of financing. This bridge and imminent
larger financing will solidify the Company's relationships with
suppliers, assist in gaining market share and brand awareness, as
well as prove to the industry that HearAtLast is making significant
strides into the Canadian market," stated Matthew Sacco.
The Company is pleased to state that the terms of this bridge
financing will not create any dilution to the Company and as
previously stated, this is the preliminary stage of a larger
financing that will be soon announced and described in detail.
About HearAtLast HearAtLast Holdings, Inc.
is a Nevada corporation that owns and operates its wholly-owned
subsidiary. HearAtLast Inc., a chain of hearing stores specializing
in the sale of digital hearing aids and testing services. The
company develops, owns, and operates hearing aid clinics co-located
within select Wal-Mart stores throughout Canada. HearAtLast
facilities sell a selection of high quality brand name hearing aids
and also offer complimentary screening tests, clinical hearing
tests, high end earbuds and assistive listening devices. The
Company's mission is to consolidate the highly fragmented hearing
services industry while providing unparalleled service to the
estimated 30+ million hearing impaired individuals throughout North
America. After a prescription is approved, the independent on-site
audiologists and hearing aid practitioners at HearAtLast utilize a
refined process to dispense the latest in Name Brand digital
hearing aids.
For more information please visit the company website at:
www.hearatlast.com.
Safe Harbor Statements about the Company's
future expectations and all other statements in this press release
other than historical facts, are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934, and as that
term is defined in the Private Securities Litigation Reform Act of
1995. The Company intends that such forward-looking statements be
subject to the safe harbors created thereby.
The information contained in this press release may include
forward-looking statements. Forward-looking statements usually
contain the words "estimate," "anticipate," "believe," "expect," or
similar expressions that involve risks and uncertainties. These
risks and uncertainties include the company's uncertain
profitability, need for significant capital, uncertainty concerning
market acceptance of its products, competition, limited service and
manufacturing facilities, dependence on technological developments
and protection of its intellectual property. The company's actual
results could differ materially from those discussed herein.
Investor Relations: HearAtLast Holdings, Inc. Aldo Rotondi
416-436-3795 investorrelations@hearatlast.com
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