DGSE Companies, Inc. (NYSE MKT: DGSE), a leading wholesaler and retailer
of jewelry,
diamonds,
fine
watches, and precious metal bullion
and rare
coin products, today announced that the term of its Loan Agreement
and Revolving Credit Note (the “Agreement”) with NTR Metals, LLC (“NTR”)
has been extended by two years, from August 1, 2015 until August 1,
2017. The Agreement was previous extended on February 27, 2014 by one
year, from August 1, 2014 to August 1, 2015. NTR is an affiliate of
Elemetal, LLC (“Elemetal”), which is DGSE’s largest shareholder.
Dusty Clem, Chief Executive Officer and Chairman of the Board, stated,
“We appreciate the continued support of Elemetal and their affiliate
NTR. This extension illustrates one of the many ways that NTR and the
entire Elemetal family of companies continue to collaborate with DGSE.
Our relationship with Elemetal continues to provide mutual benefits to
each party.”
Elemetal offers a full range of refining, recycling, minting and trading
services. Through a series of transactions beginning in 2010, Elemetal
has become the largest shareholder of DGSE’s common stock. In addition,
Elemetal is DGSE’s primary dealer for bullion purchases and is the
primary refiner of recyclable precious metal. The credit facilities are
secured by the Company’s tangible and intangible assets. This financing
transaction is subject to certain financial covenants. For additional
details, please access DGSE Companies’ Form 8-K filed with the
Securities and Exchange Commission today.
About DGSE Companies
DGSE Companies, Inc. wholesales and retails jewelry,
diamonds,
fine
watches, and precious metal bullion
and rare
coin products through its Charleston Gold & Diamond Exchange,
Chicago Gold & Diamond Exchange, and Dallas Gold & Silver Exchange
operations. DGSE also owns Fairchild International, Inc., one of the
largest vintage watch wholesalers in the country. In addition to its
retail facilities in Illinois, South Carolina, and Texas, the Company
operates websites which can be accessed at www.dgse.com,
and www.cgdeinc.com.
Real-time price quotations and real-time order execution in precious
metals are provided on another DGSE website at www.USBullionExchange.com.
Wholesale customers can access the full vintage watch inventory through
the restricted site at www.FairchildWatches.com.
The Company is headquartered in Dallas, Texas and its common stock
trades on the NYSE MKT exchange under the symbol "DGSE."
This press release includes statements which may constitute
"forward-looking" statements, usually containing the words "believe,"
"estimate," "project," "expect" or similar expressions. These statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
inherently involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements.
Factors that would cause or contribute to such differences include, but
are not limited to, continued acceptance of the Company's products and
services in the marketplace, competitive factors, dependence upon
third-party vendors, and other risks detailed in the Company's periodic
report filings with the Securities and Exchange Commission. By making
these forward-looking statements, the Company undertakes no obligation
to update these statements for revisions or changes after the date of
this release.
Copyright Business Wire 2015