NovaMin Announces New Debt Facility with Square One Bank
ALACHUA FL - April, 2006 -- NovaMin Technology Inc. (NTI) today announced the closing of a new debt facility with Square One Bank. The agreement provides the company with up to $1,000,000 in borrowings. A portion of the borrowings were in the form of a long term working capital loan and the remainder was a working capital revolving line of credit secured by accounts receivable. Specific details of the transaction were not announced.
About NTI: NovaMin Technology Inc. is an emerging stage oral healthcare technology company. NTI's brings innovation to the oral healthcare and dental industries by developing unique products based on its proprietary NovaMin active ingredient. The Company partners with leading dental products marketers and oral care consumer products marketers to brings products "Powered by NovaMin" to consumers in over 20 countries around the world. Over 2 million patients and consumers have already benefited from these products. NTI is based in Florida, USA. More information at www.novamin.com.
About Square One Bank: Square One is a new "venture" bank focused on serving venture capital backed companies. Square One Bank is entrepreneurs serving entrepreneurs with essential growth capital. More information at www.squareone.com
Contact:
Randy Scott, CEO
NovaMin Technology Inc.
+1-386-418-1551
rscott@novamin.com
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