Paddington, NSW, Australia, Aug. 27, 2014 (GLOBE NEWSWIRE) -- Banjo & Matilda, Inc. (OTCQB: BANJ) ("Banjo & Matilda" or the "Company"), an emerging Australian fashion lifestyle brand announced today that it has entered into a $1.5 million trade facility with Sallyport Commercial Finance, a factoring and asset based lending company. Banjo & Matilda will be able to utilize this trade facility until 13th August 2015, renewable annually.
Ben Macpherson, Banjo & Matilda's Co-Founder & Chief Executive Officer, stated, "We are pleased to enter into this agreement with Sallyport Commercial, which through our work together has developed a clear understanding of our long term goals and plans. We believe that this facility will help further support our growth initiatives and provide the Company with financial flexibility. We intend to use the trade facility to finance future orders in our efforts to build the Banjo & Matilda brand."
About Banjo & Matilda, Inc.
Banjo & Matilda, Inc., is an emerging high growth Australian lifestyle brand, best known as a designer, producer and marketer of premium contemporary woman's knitwear. Inspired by the iconic Bondi Beach surroundings of its creative studios, Banjo & Matilda launched its first knitwear collection in 2008. Big on quality, small on pretence, and known globally for their fun statement sweaters and luxury cashmere basics, Banjo & Matilda is discreetly luxurious, yet able to capture the essence of beach culture in a range of apparel made with supreme quality and integrity. The brand has a rapidly growing loyal global following, is quickly being stocked in major and specialty retailers around the world, and is sold through its online store www.banjoandmatilda.com.
Additional information about Banjo & Matilda can be found at the Company's corporate website: www.banjoandmatildainvestors.com
Forward looking Statement
Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, growth in the number of stores that will carry its products, increases in its sales and financial results, are examples of forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, economic trends and conditions, trends in the fashion and retail industries, the acceptance of new product designs, inherent discrepancy in actual results from estimates, projections and forecasts made by management and other factors not within the Company's control The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by forward looking statements made by the Company. The forward-looking statements contained herein are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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CONTACT: Banjo & Matilda, Inc. Or The Equity Group Inc. Ben Macpherson Adam Prior Chief Executive Officer Senior Vice-President +612 8096 email@example.com (212)firstname.lastname@example.org Market Street Investor Relations LLC The Equity Group Inc. Stan Abiassi Terry Downs Managing Member Associate 1 (877) email@example.com (212)firstname.lastname@example.org Source:Banjo & Matilda, Inc.