Business Warrior Corp (OTCMKTS:BZWR) dropped 10% after signing an LOI for an equity line of credit of $25 million with Keystone Capital.
On Tuesday, BZWR stock slid 10.40% to $0.0475 with more than 308k shares, compared to its average volume of 579K shares. The stock moved within a range of $0.0475 – 0.0520 after opening trade at $0.0490.
Business Warrior Secures $25 Million Equity Line of Credit from Keystone Capital
According to the company, the proceeds from the credit facility will be used to support prospective acquisitions, aid in scaling operations, and facilitate additional growth opportunities. In addition, the agreement enables the business to borrow up to $25 million over 24 months. CEO Rhett Doolittle stated that they are delighted with the support they have received from the financial community to support their long-term vision. He added that the new credit facility positions the company to support local communities and small businesses with their products.
Keystone Capital agreed to sign the $25 million credit line to support Business Warrior’s growth strategy. This equity credit line reflects the investors’ long-term conviction in the worth of what Business Warrior is doing. Most importantly, this is a win-win situation for the company, its investors, and small businesses all over the US. So investors should watch BZWR.
“We are very grateful for the support we’ve received from the financial community for Business Warrior’s long-term vision,” states Company CEO Rhett Doolittle. “Thanks to this new line of credit, Business Warrior is well-positioned to support small businesses and local communities with our products and solutions.”
BZWR stock is trading below the 20-Day and 50-Day Moving averages of $0.0546 and $0.0617 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1220.