TCA Fund Management Group, “TCA”, has announced the closing of a
$10,000,000 USD Senior Secured Debenture with an initial draw set at
$4,250,000 for NewLead Holdings Ltd. (OTC: NEWL).
NewLead Holdings Ltd., the "Company”, is an international, vertically
integrated shipping, logistics and commodity company providing solutions
for worldwide seaborne transportation of dry bulk commodities and
petroleum products. The company controls a fleet of ten vessels,
including five dry-bulk and five tanker vessels and manages one-third
party tanker vessel.
NewLead President and CEO, Mr. Michael Zolotas stated, “NewLead is
elated to have closed this debenture with TCA. We have been in talks for
over a year, with TCA witnessing our growth from just two vessels to
over 10 in less than a year. We are looking forward to growing our fleet
further with the financial support of TCA.”
NewLead continuously monitors the shipping market to ensure the
capturing of opportunities in the sale and purchase as well as
chartering of the vessels. The Company will focus on the growth of its
fleet, developing both the dry bulk and tanker vessels fleet base. The
current focus is on younger vessels to ensure a longer revenue capacity
through extended employment lifetime and to improve the overall fleet
age profile and trading flexibility.
Registered in Bermuda, the Company maintains offices in Piraeus, Greece
and Charlotte, North Carolina, USA. The Company is a Securities and
Exchange Commission ("SEC") reporting Foreign Private Issuer in
compliance with applicable SEC rules and regulations and current in its
SEC reporting, utilizing U.S. Generally Accepted Accounting Principles'
financial reporting standards.
TCA’s Global Credit Master Fund is a short duration, absolute return
niche Credit fund specializing in senior secured lending and advisory
services to small, mainly listed companies predominately in the U.S.,
Canada, the United Kingdom and Australia. This specialist business helps
to fill the underserved small-cap lending gap which exists in these
markets.
Know a great company who needs funding? Contact TCA at: info@tcaglobalfund.com
or visit www.tcaglobalfund.com
For more information about NewLead, please visit http://www.newleadholdings.com
Forward Looking Statements:
The information contained herein does not constitute an offer to sell or
the solicitation of an offer to purchase any security or investment
product. Any such offer may only be made by means of delivery of an
approved confidential offering memorandum and only in those
jurisdictions where permitted by law.
Copyright Business Wire 2015