Paddington, NSW, Australia, Aug. 27, 2014 (GLOBE NEWSWIRE) -- Banjo & Matilda, Inc. (OTCQB: BANJ) ("Banjo & Matilda" or the "Company"), an emerging Australian fashion lifestyle brand announced today that it has entered into a $1.5 million trade facility with Sallyport Commercial Finance, a factoring and asset based lending company. Banjo & Matilda will be able to utilize this trade facility until 13th August 2015, renewable annually.
Ben Macpherson, Banjo & Matilda's Co-Founder & Chief Executive Officer, stated, "We are pleased to enter into this agreement with Sallyport Commercial, which through our work together has developed a clear understanding of our long term goals and plans. We believe that this facility will help further support our growth initiatives and provide the Company with financial flexibility. We intend to use the trade facility to finance future orders in our efforts to build the Banjo & Matilda brand."
About Banjo & Matilda, Inc.
Banjo & Matilda, Inc., is an emerging high growth Australian
lifestyle brand, best known as a designer, producer and marketer of
premium contemporary woman's knitwear. Inspired by the iconic Bondi
Beach surroundings of its creative studios, Banjo & Matilda
launched its first knitwear collection in 2008. Big on quality,
small on pretence, and known globally for their fun statement
sweaters and luxury cashmere basics, Banjo & Matilda is
discreetly luxurious, yet able to capture the essence of beach
culture in a range of apparel made with supreme quality and
integrity. The brand has a rapidly growing loyal global following,
is quickly being stocked in major and specialty retailers around
the world, and is sold through its online store www.banjoandmatilda.com.
Additional information about Banjo & Matilda can be found at the Company's corporate website: www.banjoandmatildainvestors.com
Forward looking Statement
Certain matters discussed in this press release are
'forward-looking statements' intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. In particular, the Company's
statements regarding trends in the marketplace, growth in the
number of stores that will carry its products, increases in its
sales and financial results, are examples of forward-looking
statements. Forward-looking statements are subject to numerous
risks and uncertainties, including, but not limited to, economic
trends and conditions, trends in the fashion and retail industries,
the acceptance of new product designs, inherent discrepancy in
actual results from estimates, projections and forecasts made by
management and other factors not within the Company's control The
factors discussed herein and expressed from time to time in the
Company's filings with the Securities and Exchange Commission could
cause actual results and developments to be materially different
from those expressed in or implied by forward looking statements
made by the Company. The forward-looking statements contained
herein are made only as of the date of this press release and the
Company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances.
A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=27336
