MAULDIN, SC / ACCESSWIRE / October 31, 2024 / Xcelerate, Inc. (OTCQB:XCRT) (the "Company"), today announced that it has reached an agreement for business funding to support the growth plan for the ESN Group, a subsidiary of the Company.
"Xcelerate's leadership continues to cultivate industry interest in its business model and our 3 pillar business foundation. Our near term focus is on ESN Group and its product offering in the health and wellness market. We have recently negotiated business funding to support these initial growth plans for ESN Group. This funding package is non-dilutive to Xcelerate, Inc." commented Mike O'Shea, CEO of Xcelerate, Inc.
Jay Kline, President of ESN Group commented "These funding arrangements include a working capital line for the launch of new products in the Ceramedx brand and a Line of Credit to support ongoing marketing programs which are intended to smooth the timing of revenues and expenses and other cash flow issues".
Investors and shareholders are encouraged to stay updated on the latest developments by visiting the Company's website at https://xcelerate.global.
ABOUT XCELERATE INC.
In May 2020, Xcelerate commenced implementation of a new business plan that encompasses two separate but related businesses within the medical industry, including (i) owning and licensing the rights to various forms of medical equipment and portfolio of patents, patents pending and technology licenses and (ii) development of virtual health technology to assist patients in developing countries obtain medical care by extending the reach of physicians through the use of that technology. For more information visit www.xcelerate.global or contact us at 854-900-2020 or email info@xcelerate.global.
ABOUT ESN GROUP
ESN Group's 2 brands, Ceramedx and Earth Science Naturals are committed to using sustainable and eco-friendly natural plant based ingredients and component manufacturers. We don't test our finished products or ingredients on animals and neither do our suppliers or any third parties. Ceramedx® is the first natural ceramide therapy system developed in consultation with dermatologists for dry, sensitive skin. Earth Science is dedicated to providing clean and effective skin, body, and hair care solutions created with plant-based ingredients from more healthful sources for sustainability and wellness.
SAFE HARBOR
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.
SOURCE: Xcelerate
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