Algae International Group Signs $5,000,000 Financing Agreement with AGS Capital Group
Dallas, TX, July 22, 2013 – Algae International Group, Inc. announced that the Company has signed a $5,000,000 Reserve Equity Financing facility with AGS Capital Group, LLC, a US based specialist investor group, in order to enable growth with financing for its Algae cultivation and development project in the State of California.
John Potter, President stated: „The Reserve Equity Financing is a long-term strategic financing partnership that places ALGA in control of how and when we raise equity, minimizing any potential dilution or disruption to our capital structure. ALGA has the discretion to periodically sell common shares at a (10%) ten percent discount to the market when the prices are attractive to us. That means we decide when the funds are raised and how the funds are utilized. AGS Capital Group is a great long-term partner that helps us reduce financing uncertainty and allow management to focus on achieving our business objectives. The $5,000,000 equity financing should provide us with sufficient capital to complete our initial algae project in Tulare. CA.”
Allen Silberstein, Chief Investment Officer of AGS Capital Group, LLC, stated, „We look forward to helping ALGA grow by providing them the funding for their initial algae project and for the acquisition and development of additional algae properties into the future.“
Source: Algae International Group