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ITKH - http://www.otcmarkets.com/stock/ITKH/quote On December 30th, 2016 it had secured a $15 million dollar credit facility from institutional lender, TCA Global Master Credit Fund, LP to be used primarily for making acquisitions. iTeknik Holding Corporation accessed its recently secured credit facility to draw down $5 million dollars in cash of which $4.1 million was used to acquire assets owned by TCA known as Arrowhead Advertising. In addition, to the cash component, the Company agreed to pay the sellers an additional $1 million dollars in the form of 18 month convertible debt. The Arrowhead Assets were acquired by the Company's newly formed, wholly owned subsidiary, Big Rhino Corporation, free and clear of any debts and encumbrances. With the acquisition of these assets, Big Rhino will be a full service advertising agency with the initial potential to annually place up to $40 million in traditional media and earn commissions from media placement, digital media and creative work in excess of $4.5 million annually. Big Rhino is expected to earn over $1 million dollars annually, excluding depreciation, amortization, interest and taxes (EBITDA).
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