MWW Automotive Group Secures Initial Funds In Support Of New Industrial Projects
Monday, July 5th, 2011 08:00 AM EST
HOWELL, Mich., July 5, 2011 / MWW Automotive Group (OTC QB: MWWC), a global design, engineering, and manufacturing firm serving some of the world's leading automotive manufacturers, has executed an agreement with Hillair Capital for an initial financing of $250,000.
AEGIS Capital Corp located in New York serves as MWW's investment banking firm and financial advisor and will accommodate additional investments for a total of $400,000 under the same terms and conditions.
The investment consists of a twelve month Convertible Debenture, convertible at a fixed price of $0.04 per share with standard warrant coverage at a fixed conversion. The full details are described in the Company's 8K filing with the SEC.
As already announced in a press release on June 27, 2011 (MWW Automotive Expands Production Capacity - Adds 3rd Production Line in its Facility), MWW Automotive is currently in the process of expanding its production capacity to accommodate the expected increasing demand for its products and services. Many new projects, not only in the automotive industry, but also several large projects for our new industrial clients are expected to commence with production in the near future.
"Accordingly, MWW has decided that this is the appropriate time to enter into an investment agreement with Hillair Capital Investment LP, aided by the financial advisory services of AEGIS Capital Corp," said Rainer Poertner, responsible for Global Business development and Investor Relations at MWW Automotive. "We appreciate Hillair's decision, after conducting due diligence at our headquarters and production facility, to trust us and our management team with their investment. As we move forward with our vision to grow the company and enhance our product offerings, myself and our entire management team, led by our CEO, Chuck Pinkerton, will work closely with Hillair and AEGIS. The MWW team is committed to achieve both our short term and longer term financial goals, satisfy our funding requirements for expansion and produce an increasing ROI for our investors, as the company expands its client and product roster, increases production volume and improves financial performance."
About Aegis Capital Corp
Founded in 1984, AEGIS Capital Corp is a full service retail and institutional broker/dealer located in New York City. Aegis Capital provides world-class expertise and financial advice to private and public companies spanning the mid-cap, small-cap and micro-cap markets worldwide, encompassing capital raising, strategic advisory, private security sales and capital introduction. The firm is intensely focused, through a group of highly experienced and committed bankers, on providing high quality service to a selective group of clients by marshaling its vast resources and contact base to fulfill the clients' interest.
About MWW Automotive Group:
Headquartered in Howell, Michigan, with a "Class A" painting/assembly facilities in Baroda, Michigan, MWW Automotive Group (OTCQB: MWWC) delivers its in-house designed accessory products and Class A painting and assembly services directly to major global automobile and/or their Vehicle Processing Centers (VPC) and assembly lines in the United States, Canada and Europe. The manufacturers and the VPCs install the MWW products in a variety of vehicle types that are delivered to them directly by the domestic and foreign automobile manufacturers for distribution and delivery into the dealer channels in North America. MWW's industrial products are delivered directly to the manufacturers for installation in their facilities. Noted for its adherence to the highest quality requirements and its advanced logistics capabilities, MWW products meet and exceed customers' expectations and requirements. MWW provides substantial added value to the sale of vehicles and industrial products for leading international automobile and industrial manufacturers such as Toyota, BMW, Hyundai, Kia Motors, GM, Ford, Deere and Whirlpool. For more information please visit www.mwwautomotive.com or e-mail email@example.com.
Safe Harbor Statement:
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer and vendor demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Statements about our future expectations are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. When used herein, the words "may," "will," "should," "anticipate," "believe," "appear," "intend," "plan," "expect," "estimate," "approximate," "potential" and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties inherent in our business; including those set forth in our most recent Annual Report on Form 10-K for the year ended December 31, 2009, filed with the SEC on March 3, 2010, and other filings with the SEC, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.
Source: MWW Automotive Group
Web Site: www.mwwautomotive.com