August 5, 2014
Fuelstream, Inc. (OTCQB: FLST) (“Fuelstream” or the “Company”) announced announced today that it has signed a term sheet with NuVenture Lending, LLC, a Salt Lake City-based financier, to provide the Company a revolving line of credit of up to $1.0 million for purchases of airline fuel for resale to customers. The term sheet is subject to customary due diligence by the lender, whose representatives intend to make a site visit to the Company’s Florida headquarters on Friday this week. If the due diligence and site visit are satisfactory to the lender, the Company expects to execute definitive agreements concerning the line of credit one to two weeks thereafter.
Commenting on the proposed transaction, Thomas McConnell, Fuelstream CEO, said: “We welcome the opportunity to secure additional credit facilities to expand our business and add to the number of flights Fuelstream can service. An additional line of credit will facilitate increased sales activity and greatly assist in the Company’s growth and development.”
Fuelstream is an operating fuel logistics company that concentrates its supply chain management efforts in the distribution of aviation fuel to corporate, commercial, military, and privately-owned aircraft throughout the world. Currently, a majority of the Company’s fuel and related services are concentrated in the sourcing, purchase and delivery of (Jet-A) fuel “into the wing” of private and commercial aircraft at various airports. With offices in Sunrise, Florida and Johannesburg South Africa, the Company intends to supply a variety of ground services either directly or through its affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals, and third-party invoice reconciliations.
Atlanta Capital Partners, LLC
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This press release contains certain forward-looking statements regarding possible future circumstances. These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, any risks and uncertainties with respect to the Company’s operations, as well as those contained in the Company’s quarterly, annual, and periodic filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.