Champion Pain Care Corporation Closes a Credit Facility and
Acquires Two Pain Management Clinics
New York, NY -- December 7, 2016 -- InvestorsHub NewsWire -- On
December 1, 2016, Champion Pain Care Corporation (OTCQB:CPAI)
closed a Senior Secured Credit Facility (the Credit Facility) with
TCA Global Credit Master Fund, LP (TCA) for a maximum $13
million senior secured line of credit, of which the initial line of
credit is $6,500,000 is made available to the Company to fund
acquisitions of pain management clinics and provide working
capital.
The terms of the Credit Facility are summarized in the Form 8-K
and the accompanying exhibits filed by the Company on EDGAR on
December 5, 2016.
On the date of closing, $3,103,775 of the Credit
Facility was advanced to close the acquisition of the assets of two
pain management clinics in St. Augustine and Palatka, Florida, and
to provide working capital. The Company intends to use the
remaining amount, after fees, to fund additional acquisitions and
provide more working capital. The Company, at the sole discretion
of TCA, may request an increase in the line of credit at agreed
upon time periods and agreed upon amounts. The sum of the Initial
Line of Credit and the subsequent line increases, if any, (the Then
Current Line Size) shall not exceed the maximum line of
credit. Each subsequent line increase will require the
Company to execute and deliver a new or revised revolving note to
the Investor and be responsible for any fees and expenses
associated with the line increase.
About Champion Pain Care Corporation
Champion Pain Care Corporation (OTCBB:CPAI, the Company) is a
medical services holding company that is focused on creating a
nation-wide network of clinics specializing in providing pain
resolution treatments. Chronic pain alone affects 100 Million
Americans and is a growing market as the population ages. Across
the US, there are approximately 2,500 independent private pain
management clinics operated by nearly 4,000 certified pain
management specialists. It is the goal of the Company to acquire a
number of those clinics, build a pain resolution network and create
a national brand that pain patients will turn to for effective,
economical and enduring pain treatments. To accomplish this, the
Company plans to provide centralized management and administration,
improve infrastructure, achieve economies of scale, implement
standard operating procedures and best practices and engage in
marketing directly to consumers.
About TCA Global Credit Master Fund, LP
TCA Global Master Fund, (TCA), is a short duration, absolute
return fund specializing in senior secured lending and advisory
services to small, mainly listed companies predominantly
in the United States of America, Canada,
Western Europe and Australia. TCA's specialist
business fills the underserved small-cap lending gap that exists in
these leading markets. The TCA team has an unparalleled level of
domestic and cross-border expertise, long-standing relationships
and a history of comprehensive funding innovations. This reflects
in its history of successful, completed transaction and high level
of repeat business. Additional information may be found at
www.tcaglobalfund.com
Forward Looking Statements
This press release may contain statements which constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the intent, belief or current expectations of the
Company, its directors, or its officers with respect to the future
operating performance of the Company. Investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties (for example, the
risk that the acquisition of additional clinics are not
consummated), and that actual results may differ materially from
those in the forward-looking statements as a result of various
factors. The Company's periodic filings with the Securities and
Exchange Commission available at www.sec.gov should be
viewed for a complete understanding of risk and uncertainty. Any
forward-looking statements in this release speak only as of the
date on which it is made. The Company assumes no obligation to
update or revise any forward-looking statements.
CONTACT
Terrance Owen, PhD, MBA
CFO
1-877-966-0311, Ext. 201
info@championpaincare.com
SOURCE
Champion Pain Care Corporation
RELATED LINKS
http://www.championpaincare.com