Cizzle Brands secures $5 million revolving credit facility

Cizzle Brands Corporation (Cboe Canada: CZZL) (OTCQB: CZZLF) (Frankfurt: 8YF) announced it has entered into a three-year $5 million secured revolving credit facility with eCapital.

The facility will be available for general corporate purposes and working capital needs as the sports nutrition company continues executing growth plans for its CWENCH Hydration and Spoken Nutrition product lines, along with new product offerings planned for the short and medium-term.

The credit facility follows Cizzle Brands' recent oversubscribed private placement that raised over $4.5 million. The Toronto-based company stated the facility provides non-dilutive working capital with a financial partner prepared to grow with the business.

"Entering into the Facility is a strategic decision that provides us non-dilutive working capital with a financial partner in eCapital that is prepared to grow with us," said John Celenza, founder, chairman and CEO. "With the closing of the $4.5 million dollar private placement along with the recent additions to the board of directors including retired NFL star, Ndamukong Suh, we have the cash we need and are extremely well positioned to continue to sustainably grow our brands in Canada and strategically enter the US market."

Cizzle Brands operates two product lines: CWENCH Hydration, a sports drink carried in over 4,400 locations in Canada, the United States and Europe, and Spoken Nutrition, a line of athlete-grade nutraceuticals with NSF Certified for Sport qualification.

The information is based on a company press release.

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