PCT LTD executes term sheet for debt financing
February 3, 2020
LITTLE RIVER, SC – PCT LTD announced it has executed a term sheet for a USD $500,000 convertible note which, if fully realized, would provide funding for PCTL to redeem a portion of its current debt, as well as funding its operating company, Paradigm Convergence Technologies Corp. (“PCT Corp.”) with needed money to move its aggressive goals forward.
PCTL’s CEO, Gary Grieco, stated, “We need to redeem some of the less than favorable debt we’ve incurred in the past, and this convertible note is much more ‘friendly’ than the other notes we will replace with it.” Grieco further commented, “We keep in mind the dilutive effect on our shareholders and try to balance that with our need to grow the operating company effectively for a longer-term benefit to all.”
– BUSINESS WIRE
About PCT LTD:
PCT LTD (“PCTL”) focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting, cleaning and tracking technologies products. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). Currently trading on OTC, “PCTL” aspires to and is actively engaged in preparations for up-listing its common stock to a national securities exchange. The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.
