SANTA FE SPRINGS, Calif., April 16, 2015 (GLOBE NEWSWIRE) -- J.D. Hutt Corporation ("JD Hutt" or the "Company") (OTC PINK:JABA), today announced that it has closed an equity financing priced at $0.01/share of common stock for $2 million dollars, to be paid over the course of 18 months. The financing was structured to provide the company with a $250,000 tranche every three months for the first year followed by a $500,000 tranche month 15 and month 18 to close out the transaction.
"Proceeds from the transaction will be used for operating capital to enhance and grow the company's business," said George Powell, CEO of JD Hutt. "It strengthens the fact we've arrived at a pivotal point in terms of developing out our business model now that we have the appropriate funds necessary to do so."
About J.D. Hutt Corporation
JD Hutt's new business focus is to enter the sustainable apparel industry in order to reduce the carbon footprint and make a systemic change in how apparel is made shipped and sold. It will embrace the change and become the ecopreneurs of the industry.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. JD Hutt undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this communication except as required by law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. All forward-looking statements are qualified in their entirety by this cautionary statement.