ORLANDO, Fla., June 7, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBB) announced it recently completed the funding of its first debt instrument as a BDC through an unregistered subordinated debenture with an accredited investor.
This is the first debt instrument issued by Company since becoming a BDC that does not convert into common stock. The debenture is a three year, $150,000 obligation at eleven percent interest. This is the first placement through TSB Ventures Inc., a company formed by TS&B in March to develop a series of investment partnerships that will be instrumental in financing associated transactions for TS&B.
The CEO of TS&B Holdings Inc., James E. Jenkins stated, "We're very excited about our first debenture placement as a BDC that does not affect the common stock. The Company is currently working on structuring similar instruments. The debt is serviced through revenue from the targeted acquisitions. The response the Company has received from investors is very positive. Recently, there has been many positive articles in the financial press regarding BDC's and their ability to raise capital in the markets. We believe this first placement will bring other investors to the Company."
About TS&B Holdings Inc.
TS&B Holdings Inc. is a Business Development Company under the Investment Act of 1940 aggressively seeking opportunities in emerging and fast growth industries.
Safe Harbor
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.