Printer Friendly

CROWN LABORATORIES ANNOUNCES THE RECEIPT OF WORKING CAPITAL

 LAS VEGAS, Nev., Sept. 13 /PRNewswire/ -- Crown Laboratories Inc. (OTC Bulletin Board: CRRN) has announced the receipt of working capital equity funding in the amount of $3.5 million. These funds were received from high net worth individuals through a private placement, and $2.5 million of the proceeds was received from two mutual funds of Invesco Trust Co. in Denver. The company will continue to raise funds over the next 90-day period. The company intends to use these funds to rapidly proceed with the establishment of its liquid manufacturing facility (which it expects to be operational in six months), equipment acquisition and working capital requirements. The company will be relocating its corporate and manufacturing facilities from Reno to the Las Vegas, Nev., area. The trading symbol for the company's stock is CRRN on the OTC Electronic Bulletin Board. The company is engaged in the manufacturing and distribution of adult nutritional products for healthcare.
 -0- 9/13/93
 /CONTACT: Craig Nash of Crown Laboratories, 619-564-6801/
 (CRRN)


CO: Crown Laboratories Inc. ST: Nevada IN: SU:

TM-MC -- SF003 -- 1261 09/13/93 11:38 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 13, 1993
Words:183
Previous Article:DIGITAL SYSTEMS INTERNATIONAL ISSUES CLARIFICATION
Next Article:FFP OPERATING PARTNERS SELECTS VERIFONE'S RUBY SUPERSYSTEM(TM) AS INTEGRATED POINT-OF-SALE PLATFORM
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters