FORT WORTH, Texas, Aug. 12, 2004 (PRIMEZONE) -- Catalyst Lighting Group, Inc. (OTCBB:CYSL) announced today that its subsidiary, Whitco Company, LP, has entered into an accounts receivable purchase agreement with Marquette Commercial Finance, a Minnesota company with offices in Fort Worth, Texas. Whitco has also entered into an inventory financing arrangement with Capital Growth Asset Based Bridge Loan Fund II, LLC, a company based in Boca Raton, Florida.
Under terms of the agreement with Marquette Commercial Finance, up to $3 Million of Whitco's accounts receivable can be sold to Marquette Financial. The terms of the agreement with Capital Growth Asset Based Bridge Loan Fund II, LLC provide up to $1 Million in lending availability, based upon Whitco's inventory.
Dennis Depenbusch, CEO and Chairman of the Board of Directors of Catalyst stated, "These combined lending relationships provide us additional capital availability with more appropriate covenants based on our near term objectives. We are excited to include both firms as a part of our overall growth strategy."
About Catalyst Lighting Group, Inc.
Catalyst Lighting Group is headquartered in Fort Worth, Texas. Through its sole subsidiary, Whitco Company, LP, Catalyst manufactures and markets light poles for the commercial and industrial markets. The company sells and distributes its products through a network of more than 70 agents stationed throughout the United States. More information about Catalyst Lighting Group, Inc. may be found on the company's Web site, www.catalystlighting.com.
Certain of the above statements contained in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including but not limited to, risks associated with Catalyst Lighting Group, Inc.'s future growth and operating results, the uncertainty of market acceptance of the company's products, technological change, competitive factors and general economic conditions. Catalyst Lighting Group, Inc. has no duty and undertakes no obligation to update such statements.