Bergio International Closes on a $2.5 Million Equity Facility With TCA
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Bergio Intl (OTCBB:BRGO)
Intraday Stock Chart
Today : Wednesday 11 January 2012
On December 23, 2011, Bergio International Inc. (OTCBB: BRGO) entered into an Equity Agreement with TCA Global Credit Master Fund. TCA has committed to purchase up to $2,500,000 of Bergio International's common stock. The purchase price of the Shares under the Equity Agreement is equal to a 5% discount of market price (for further information, see our 8-K filing.)
Berge Abajian, CEO of Bergio International, states, "Signing the agreement with TCA is a positive move which gives us the option of using this funding at our discretion with a minimum discount to market and little dilution. This will definitely help us in reaching our ultimate goal of closing on our first acquisition with Mario Panelli in Italy and other acquisitions that we are working on."
Also, Berge Abajian states, "This funding is beneficial for Bergio International and I am very pleased with the position of our company. Our Asset to Liability ratio is at its highest, we had a great 4th quarter selling season and our expansion in Moscow has started to produce revenues. Our stock price should be at a minimum of 10 times the present value considering our stockholder equity in the company as of today."
About Bergio International, Inc.
Bergio International, Inc. is a leading jeweler creating one of the world's largest diversified jewelry designers and manufacturers through acquisitions and consolidation in the estimated $160 billion a year highly fragmented independently owned Jewelry industry. Bergio currently sells its jewelry to approximately 50 jewelry retailers across the United States. Bergio has manufacturing control over its line as a result of having a manufacturing facility in New Jersey as well as subcontracts with facilities in the United States and Italy. For more information about our Company, please visit our website at www.bergio.com or our Facebook page at www.facebook.com/bergio1.
Forward-Looking Statement:
The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
Contact:
Bergio International, Inc.
Investor Relations
973-227-3230
