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Home > Financial Press Releases > Sagamore Holdings, Inc. Completes $1,250,000 Financing with CSI Business Finance, Inc.
Sagamore Holdings, Inc. Completes $1,250,000 Financing with CSI Business Finance, Inc.
HOUSTON, TEXAS (PRWEB) November 24, 2005 -- CSI Business Finance, Inc. (OTCBB:CSIB) announced today the completion of a $1.25 million lending transaction with Sagamore Holdings, Inc. Tim Connolly, CEO of CSIBF, stated, “The purpose of this funding is to provide working capital to support Sagamore’s subsidiary company – Nexus Custom Electronics.” Dan Shea, board member of Sagamore and president of Nexus Electronics (a wholly owned subsidiary of Sagamore Holdings), added that “the new working capital will enable the company to expand production, complete delivery of pending purchase orders, and implement the overall restructuring of Nexus. The initial funding of $440,000 has already occurred, and we are confident we can meet the deliverable requirements of the remaining $810,000.”
About CSI Business Finance, Inc. – CSI Business Finance provides equipment leasing and other forms of business lending to public and private companies. Formerly a subsidiary of Corporate Strategies Merchant Bankers, CSIBF recently was acquired in a reverse merger with the company formerly known as Health Express, Inc.
About Sagamore Holdings, Inc. – Nexus Custom Electronics, Corp. (“Nexus”), a wholly owned subsidiary of Sagamore Holdings, Inc., is a custom contract manufacturer of printed circuit boards and is a 37 year old company. Headquartered in Vermont with a second manufacturing facility in Massachusetts, Nexus (acquired in September, 2004) is the core holding of Sagamore Holdings, Inc.
All statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations that are disclosed in this Press Release. While CSI Business Finance, Inc. believes its forecasting assumptions are reasonable, there are factors that are hard to predict and influenced by economic and other conditions that are beyond CSI Business Finance, Inc.'s control. Among the other important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in CSI Business Finance, Inc.'s filings with the Securities and Exchange Commission.
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