Innovative Food Holdings Secures $2.0 Million Line of Credit From Fifth Third Bank
December 17 2013 - 9:00AM
Marketwired
Innovative Food Holdings Secures $2.0 Million Line of Credit From
Fifth Third Bank
Proceeds to Repay Existing Debt and Further Strengthen Company's
Financial Position
BONITA SPRINGS, FL--(Marketwired - Dec 17, 2013) - Innovative
Food Holdings (OTCQB: IVFH), a leading nationwide provider of
specialty foods, healthcare foods, gluten free foods, and direct
from source artisanal foods to the professional foodservice market,
today announced that it has completed a financing transaction with
Fifth Third Bank that will provide a $1.0 million revolving credit
facility and a $1.0 million term credit facility.
The financing package will be used to pay down the balance of
the Company's $1.2 million loan it incurred for the acquisition of
Artisan Specialty Foods, Inc., as well as general corporate
purposes.
Sam Klepfish, CEO of Innovative Food Holdings, commented, "We
believe that this is a significant step for the Company as it
strengthens our capitalization and financial flexibility, provides
us greater access to capital for investments and acquisitions, and
pays down certain notes. In addition, we are pleased to be able to
secure financing which reduces dilution to our shareholders."
For additional details, please access Innovative Food Holding's
Current Report on Form 8-K filed with the Securities and Exchange
Commission on December 16, 2013.
ABOUT INNOVATIVE FOOD
HOLDINGS, INC.
Innovative Food Holdings, through its subsidiaries, is a leading
nationwide provider of direct from source specialty foods,
healthcare foods, gluten free foods, and artisanal foods, to the
professional foodservice market. IVFH also markets those products
directly to the consumer, through its website at
www.forthegourmet.com. Many of Innovative Food Holdings' 7,000+
products are used on a daily basis by approximately 30,000 of some
of the leading professional chefs across the United States.
FORWARD-LOOKING
STATEMENTS
This release contains certain forward-looking statements and
information relating to Innovative Food Holdings, Inc. (IVFH) (the
"Company") that are based on the current beliefs of the Company's
management, as well as assumptions made by, and information
currently available to, the Company. Such statements reflect the
current views of the Company with respect to future events and are
subject to certain assumptions, including those described in this
release. Should one or more of these underlying assumptions prove
incorrect, actual results may vary materially from those described
herein as "should," "could," "anticipate," "believe," "intend,"
"plan," "might," "potentially" or "expect." The Company does not
intend to update these forward-looking statements.
Follow us on
Twitter: @IVFHcompany
Management
Contact Sam Klepfish CEO (239) 449-3235
sklepfish@innovativefoodholdings.com Investor Relations Contact
James Carbonara Regional Vice President Hayden IR Office: (646)
755-7412 James@haydenir.com
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