Alanco Announces $1.0 Million Line of Credit Agreement; New Financing Available to Fund Future Growth.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Sept. 29, 1999-- Alanco Environmental Resources Corp. (Nasdaq:ALAN) Wednesday announced that it has signed an agreement with Imperial Bank, Phoenix for a $1.0 million revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. at prime plus 1.5 percent. The formula-based line of credit is based upon receivable and inventory values and will be used to finance acquisitions and additional working capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. . Alanco Environmental Resources Corp. is an Arizona corporation headquartered in Scottsdale, primarily engaged in the environmental products business. Alanco is traded on the Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol ALAN. This press release contains statements that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are inherently uncertain, and the actual results may differ from management's expectations. |
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