Lattice Expands Line of Credit to Enhance its Financial Flexibility
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PENNSAUKEN, N.J.--(Business Wire)--
Lattice Incorporated (OTC: LTTC) ("Lattice" or the "Company"), a
provider of advanced information and communications technology
solutions to key government agencies and enterprise customers,
announced today that the Private Bank of the Peninsula reached a
participation agreement with Montage Capital LLC ("Montage Capital")
under which it can expand Lattice's line of credit from $2,400,000 up
to $4,000,000. The interest rate on the line of credit is 3% above
prime.
"We are pleased to have the support of Private Bank of the
Peninsula, along with that of our new participant Montage Capital,"
said Paul Burgess, Lattice's Chief Executive Officer. "We believe that
this new facility will provide us with additional capacity and
flexibility as we execute our strategy to grow our business
organically and through acquisitions."
Mike Hansen, Executive Vice President of The Private Bank of the
Peninsula, said: "We are delighted we were able to reach an agreement
with Montage Capital to extend this line of credit for Lattice and we
look forward to a long and successful working relationship with
Lattice Incorporated."
About Private Bank of the Peninsula
The Private Bank of the Peninsula is a locally owned and managed,
full service California State chartered commercial bank, dedicated to
being the best community bank, meeting the diverse financial needs of
individuals, businesses and non-profit organizations.
About Lattice Incorporated
Lattice Incorporated is a provider of advanced information and
communications technology solutions to the government and commercial
markets. The company's technology services division designs, deploys
and manages advanced technological solutions at key government
agencies and for mid- to large-sized enterprises. Lattice's technology
products division consists of several core proprietary platforms used
to develop customized software applications with military grade
security in a number of different markets. For more information, visit
http://www.latticeincorporated.com.
Safe-Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This press release may contain forward-looking
information within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, including all statements that are
not statements of historical fact regarding the intent, belief or
current expectations of the company, its directors or its officers
with respect to, among other things: (i) the company's financing
plans; (ii) trends affecting the company's financial condition or
results of operations; (iii) the company's growth strategy and
operating strategy; and (iv) the risk factors disclosed in the
Company's periodic reports filed with the SEC. The words "may,"
"would," "will," "expect," "estimate," "anticipate," "believe,"
"intend" and similar expressions and variations thereof are intended
to identify forward-looking statements. Investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, many of which are
beyond the company's ability to control, and that actual results may
differ materially from those projected in the forward-looking
statements as a result of various factors including the risk factors
disclosed in the company's Forms 10-K previously filed with the SEC.
Lattice Incorporated
Paul Burgess, CEO, +(1) 856-910-1166 x.2111
pburgess@sysmanagement.com
or
CCG Elite Investor Relations
Crocker Coulson, President, +(1) 646-213-1915
crocker.coulson@ccgir.com
or
Ed Job, CFA, +(1) 646-213-1914
ed.job@ccgir.com
Copyright Business Wire 2008
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