SAN DIEGO, CA--(Marketwired - Feb 23, 2017) - Eco Building Products, Inc., ( OTC PINK : ECOB ) announced today that its newly formed subsidiary, Wood Protection Technologies, Inc. has secured a $400,000 credit facility to fund the Company's launch and immediate term ramp up.
Tom Comery, President and CEO of both companies, had this to say about the announcement; "This is a critical milestone in preparing the Company to operationalize its suite of environmentally friendly, wood protection chemical formulations. Attracting new capital was one of the first stage objectives behind the subsidiary so it feels good to have this finalized early on. With this in place, we can move forward with the funding necessary to consummate the sales agreements we have under negotiation as well as accelerate the testing process for our new products."
Adding, "It is particularly gratifying that we were able to secure conventional term loans at attractive interest rates."
Eco announced on February 9th that it had formed a new subsidiary, Wood Protection Technologies, Inc., to position the Company's products for alignment with major Industry partners and to attract new, more efficient, lower cost capital.
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