US: Bootie Beer builds acquisition warchest
Bootie Beer has lined up US$25m for "strategic acquisitions".
The US-based company confirmed yesterday (7 February) that it has entered into an investment banking agreement with KMA Capital Partners to raise up to US$25m. Bootie noted that it is "strategically selecting and targeting companies that can bring economies of scale and immediate revenues and profits to the company".
Tania Torruella, Bootie Beer's CEO, said: "Our agreement with KMA Capital Partners will enable us to pursue strategic acquisitions that are generating revenues and profits. This strategy will open many doors for the company, immediately improving our financials, and increasing shareholders' equity.
"We will be working closely with KMA Capital to guide us through a successful execution."
The company also said that it expects to close on one or two key acquisitions by the end of June. "This new relationship with KMA Capital gives our company a huge opportunity to reach a new operating level," Torruella added.
Bootie Beer has posted a large dip in net losses for the first three months of this year....
Bootie Beer Corporation has filed for a name change to alter the company's name to TMT Capital Corporation....
The board of Wisconsin brewer Bootie Beer Corporation has announced a share repurchase programme which could see the company buy back up to 2m shares of its common stock....
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