The secured financing will further product development for Pacific Saddlery following its successful mobile retail trailer launch earlier this year.
IRVINE, Calif., June 4, 2024 /PRNewswire/ -- ECGI Holdings, Inc. (OTC: ECGI) (ECGI or the Company), a diversified holding company with a unique portfolio in viticulture and luxury fashion, today announces a major financial milestone: The company has successfully secured the first of two $125,000 convertible note financings, a decisive move set to supercharge its strategic growth and expansion endeavors. The second convertible note is expected to close next month under the same terms.
This capital infusion will propel Pacific Saddlery's growth and enhance its product development.
"I'd like to congratulate our dedicated investors who have shown unwavering support," said Jamie Steigerwald, CEO of ECGI Holdings. "2024 is shaping up to be a transformative year for ECGI. Securing this financing allows us to significantly enhance Pacific Saddlery's product development."
After fees, ECGI will receive $100,000 in growth capital from each convertible note to support major initiatives.
The secured financing will further product development for Pacific Saddlery following its successful mobile retail trailer launch earlier this year. This move will capture a significant share of America's $300 million luxury equestrian market. By strategically expanding Pacific Saddlery's offerings, ECGI Holdings will position itself alongside industry leaders like Hermès, Charles Ancona, and CWD Sellier.
Jamie Steigerwald, CEO of ECGI Holdings, said: "We are thrilled to secure this pivotal financing, reflecting the unwavering confidence in our strategic vision. This capital infusion will propel Pacific Saddlery's growth and enhance its product development following the success of the mobile retail trailer launch."
About ECGI
ECGI is a diversified holding company with a distinctive portfolio encompassing viticulture and luxury fashion. The Company owns and manages a five-acre vineyard in Lake County, California, specializing in cultivating Petite Sirah, known for its bold and rich character, which aligns with the growing demand for unique and high-quality wine experiences. In the fashion sector, ECGI has strategically invested in Pacific Saddlery, a premier manufacturer and retailer of luxury equestrian tack, apparel and accessories. This unique blend of wine and fashion investments reflects ECGI Holdings' commitment to delivering sophistication and innovation across diverse markets, positioning the Company as a distinctive player in the intersection of technology, viticulture and luxury lifestyle.
For additional information, please contact us at info@ecgiholdings.com.
Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to, economic conditions, changes in the laws or regulations, demand for products and services of the Company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
For more information, please contact:
Jamie Steigerwald
jamie@ecgiholdings.com
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SOURCE ECGI Holdings
