Bitzio Moving Forward with Debt Restructuring Plan
Post# of 294
Posted On: 06/19/2015 8:35:33 AM
Bitzio Moving Forward with Debt Restructuring Plan
LOS ANGELES, CA / ACCESSWIRE / June 18, 2015 / LOS ANGELES, CA - Bitzio Inc. d/b/a Democratique (OTCQB: BTZO) announced that it is in conversations with key creditors and aims to release details of a debt restructuring plan involving the majority of the debt payable from its balance sheet.
"We are pleased with the early support of our creditors as we move forward in implementing a debt restructuring plan to strengthen Bitzio's financial condition and better position the Company for future growth and success," said Hubert Blanchette, Bitzio's Chief Executive Officer.
The Company is working with its creditors to finalize terms of a financial restructuring plan which would significantly reduce debt and interest payments and result in a stronger balance sheet for the Company.
"We need to restructure our debt before we can complete any further acquisitions," Blanchette continued. "We have been in negotiations with our lenders, and I believe we will achieve a comprehensive debt restructuring that will allow us to pursue acquisition targets that we have deemed important to creating shareholder value."
About Bitzio, Inc.
Bitzio, Inc. (OTCQB: BTZO) develops and supports emerging fashion brands.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The terms and phrases "expects," "would," "will," "believes," and similar terms and phrases are intended to identify these forward-looking statements. Many factors could cause Bitzio's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. Copies of filings can be obtained at www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on Bitzio's forward-looking statements. Bitzio has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For Investor and Media Inquiries:
Investor Relations
Bitzio, Inc.
Email: info@bitzio.com
LOS ANGELES, CA / ACCESSWIRE / June 18, 2015 / LOS ANGELES, CA - Bitzio Inc. d/b/a Democratique (OTCQB: BTZO) announced that it is in conversations with key creditors and aims to release details of a debt restructuring plan involving the majority of the debt payable from its balance sheet.
"We are pleased with the early support of our creditors as we move forward in implementing a debt restructuring plan to strengthen Bitzio's financial condition and better position the Company for future growth and success," said Hubert Blanchette, Bitzio's Chief Executive Officer.
The Company is working with its creditors to finalize terms of a financial restructuring plan which would significantly reduce debt and interest payments and result in a stronger balance sheet for the Company.
"We need to restructure our debt before we can complete any further acquisitions," Blanchette continued. "We have been in negotiations with our lenders, and I believe we will achieve a comprehensive debt restructuring that will allow us to pursue acquisition targets that we have deemed important to creating shareholder value."
About Bitzio, Inc.
Bitzio, Inc. (OTCQB: BTZO) develops and supports emerging fashion brands.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The terms and phrases "expects," "would," "will," "believes," and similar terms and phrases are intended to identify these forward-looking statements. Many factors could cause Bitzio's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. Copies of filings can be obtained at www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on Bitzio's forward-looking statements. Bitzio has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For Investor and Media Inquiries:
Investor Relations
Bitzio, Inc.
Email: info@bitzio.com
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