Looks like one PR today, another expected next week:
PM&E, Inc. Business Model Attracts New Financing Package Favorable To Company & Shareholders
MARKET WIRE 9:13 AM ET 2/17/2017
Symbol Last Price Change
PMEA 0.0017up 0 (0%)
QUOTES AS OF 03:17:53 PM ET 02/16/2017
CHEYENNE, WY and SOUSSE, TUNISIA -- (Marketwired) -- 02/17/17 -- Aircraft manufacturer PM&E, Inc.(PMEA) announced today that it has reached a business financing agreement with a very favourable lender
CEO Joseph Bourne stated, "Our recent announcements, business activity and partnerships have all garnered new interest among the business financing community. One company in particular has stepped forward and taken ownership in financing our immediate business plans under very favourable terms. Yesterday we signed a 10 million dollar Term Sheet with GHS Investments, LLC in New York. This move is important because it has resulted in a significant improvement of the terms under which we can access capital on an as needed basis. We are pleased to be working with GHS and will commence with becoming a fully reporting company via the filing of a Form 10 registration immediately. The registration will allow for a higher degree of transparency and reliability for our long-term investors."
Mr. Bourne said, "In light of this new direction via an S-1 filing, the board and I have decided to terminate the original 10 million dollar Reg-A deal with GPL Ventures, LLC. They are a great company and we appreciate their willingness to support the growth and development of our company, but at this point, this new direction is a better fit for our long term strategy."
PM&E, Inc. (PMEA) is an aircraft company with a contracted manufacturing facility located in Sousse, Tunisia. The company is in the process of implementing a modern manufacturing plant in Tunisia and securing a facility for aircraft assembly in Wyoming. The company manufactures their signature line of EVADA Aircraft. Through a strategic partnership, DiNelly EXOGYRO also manufactures their commercial ultra-light gyrocopters at the same facility in Tunisia creating synergies and cost savings for both companies through a shared resources and revenues agreement.
Mr. Bourne went on to say, "It quickly became obvious to us that a company of our size and scalability required a more structured and streamlined process for accessing operating capital. Banks and other institutional investors look more favourably upon those companies that raise capital via a Form 10 filing and an S-1 registration. In fact, we are already in preliminary discussions now with some of those same institutions for additional support over the long term. We have additional news that we plan to share next week, but in the meantime, as always, we'd like to thank everyone for their support."
