Cizzle Brands obtains $5M credit facility from eCapital

Executive Summary

• Cizzle Brands Corp. has secured a $5 million secured revolving credit facility from eCapital, available for general corporate purposes and working capital.
• The facility is a three-year agreement designed to support the company's strategic growth plans for its Cwench Hydration and Spoken Nutrition brands, as well as new product offerings.
• This financing bolsters the company's cash position following a recent oversubscribed private placement that raised over $4.5 million.

Key Details

• Facility Amount: $5 million
• Facility Type: Secured revolving credit facility
• Lender: eCapital
• Term: Three years
• Use of Proceeds: General corporate purposes and working capital needs to execute business strategic growth plans for Cwench Hydration and Spoken Nutrition, along with new product offerings.
• Contextual Financing: The company recently completed an oversubscribed private placement raising over $4.5 million.
• Strategic Context: The CEO cites the facility, combined with recent board additions (including Ndamukong Suh), as positioning the company to sustainably grow brands in Canada and enter the U.S. market.

Notable Quotes

• "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. With the closing of the $4.5-million 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 U.S. market." — John Celenza, Founder, Chairman and CEO