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INSCOR, Inc. Corporation Announces Joint Cooperation Agreement

http://finance.yahoo.com/news/inscor-inc-corporation-announces-joint-143700779.html

LAS VEGAS--(BUSINESS WIRE)--

INSCOR, Inc. Corporation (IOGA) Chairman Keith McAllister announced this morning that INSCOR has entered into a Joint Cooperation Agreement with Skyjet Airways Private Limited. According to the terms of this binding agreement, INSCOR shall make the cash-backed collateral whose receipt it announced on October 31, 2014 available to Skyjet, and Skyjet shall in turn provide INSCOR with access to its confirmed lines of credit. By cooperating with each other, both INSCOR and Skyjet are each able to access up to $50 million in secured debt financing, to be used for the roll-out of their business plans and the expansion of their offered products and services.

INSCOR Chairman Keith McAllister noted this morning “our cooperation with Skyjet allows us to access needed capital in a more expedient manner, while also opening the door toward building an expanded network of long-term and lasting banking relationships.”

Founded in 2013, Skyjet Airways Private Limited is a Republic of India-based scheduled airline utilizing a fleet of Airbus 320 aircraft. Skyjet Director Nawal Kishore lauded today’s announcement, highlighting the mutual benefits to be derived from cooperating with INSCOR and stressing the difficulty and importance of accessing acceptable collateral necessary to obtain secured debt financing.