Mendocino Brewing Company, Inc. announced that it has received $0.2 million in funding from Catamaran Services, Inc.
May 23, 2017
Share
Mendocino Brewing Co. Inc. (OTCPK:MENB) announced a private placement of an unsecured promissory note for gross proceeds of $200,000 with existing lender Catamaran Services, Inc. on May 24, 2017. If the company is not able to satisfy its obligations on the note within the six month period following the date of the note, the note shall be automatically extended for additional six month terms until a shareholder loan sufficient to satisfy the note is received or the note is otherwise paid. Interest shall accrue from the date of the note on the unpaid principal at a rate equal to the lesser of 1.5% per annum above the prime rate offered from time to time by the Bank of America Corporation in San Francisco, California, or 10% per annum, until the principal is fully paid. The note may be prepaid without penalty at the option of the company, no payments on the note may be made unless such payment is a permitted payment or certain existing obligations of the company to Cole Taylor Bank, N.A. pursuant to the credit agreement.
Mendocino Brewing Company, Inc. (MBC) is a craft brewer. The Company produces ales and lagers in its breweries in the United States. The Company operates through two segments: brewing operations, tavern and tasting room operations in the United States and Canada (the North American Territory), and distributor operations in Europe (including Austria, Belgium, Denmark, Ireland, Italy, the Netherlands, France, Finland, Germany, Greece, Iceland, Liechtenstein, Luxembourg, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom) (the Foreign Territory). The Company's operations in the North American Territory consist primarily of brewing and marketing craft beers. The Company's operations in the Foreign Territory consist primarily of the marketing and distribution of Kingfisher Premium Lager in the Foreign Territory through Indian restaurants, chain retail grocers, liquor stores and other retail outlets (such as convenience stores).
MENDOCINO BREWING COMPANY, INC. 
