Business & Finance
Business and Finance
Business and Finance
Tue, June 29, 2010 Ronn Motors Approves Mezzanine Equity Financing Package
MARBLE FALLS, TX--(Marketwire - June 29, 2010) - The Board of Directors of Ronn Motor Company (RMC) (
Ronn Maxwell, Company CEO, stated, "We believe that this equity financing will provide us with the necessary short term cash to either finalize negotiations with the EDC in Marble Falls for their manufacturing facility or pursue other space that has recently become available."
Mr. Maxwell continued, "We are very pleased with the Reliad package and it will greatly help the Company in its efforts to relocate to a manufacturing and distribution facility that will meet the Company's immediate and future needs. The EDC and City of Marble Falls have been tremendously supportive and flexible, in light of the overall difficult economic environment. We have been pleasantly surprised by the many offers for other space available, both locally and from other communities, but our commitment has been and will continue to be with the City of Marble Falls."
Headquartered in Marble Falls, Texas, Ronn Motor Company, Inc. is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and "green," eco-responsible technology. These technology systems include Hydrogen Fuel, Fuel Cells and Plug-in Electrics. Our products will be incorporated into our originally designed and manufactured automobiles and will also be made available for aftermarket applications. Our products, coupled with RMC's core values of a strong sense of ethics, environmental sensitivity and premium quality, position the Company as one of the new leaders in an automotive industry transitioning toward greater fuel efficiency. For more information, please visit [ www.ronnmotors.com ]
This release contains forward-looking statements that reflect Ronn Motor Company's (the "Company") plans and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.
