NetworkNewsBreaks – GTX Corp (GTXO) Secures $500,000 Revolving Line of Credit and Signs Two New Distributors
GPS technology-focused holding company GTX Corp (OTC: GTXO) this morning announced that it has secured a revolving line of credit for production financing and has signed two new Canadian and U.S. distributors. According to the update, a private institutional partner will provide an interest and royalty based credit line, initially for $500,000 with potential for the lender to increase to $3 million, that GTXO can draw down on, as needed, based on product demand and receipt of purchase orders. In addition, the company has onboarded two new distributors, which officially launched SmartSole sales over the holidays, including Orange County, California-based Senior.com and Ottawa, Canada-based Red Dot Alerts. “We are excited to add Senior.com and Red Dot Alert to our growing list of distributors and now that we have secured non-dilutive product financing we expect to see continued growth with our Flagship GPS SmartSoles, along from the military, our track my workforce app, other GPS, BLE and NFC products, including our RT15 weapons tracker, Rover Tracker for pets and our line of supply chain management NFC asset tracking solutions,” GTX Corp CEO Patrick Bertagna stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer