National Automation Services, Inc. (NASV.PK) Announces LOI for $20 Million Financing Agreement with KCGI
National Automation Services, Inc. announced today that its Board of Directors has approved a Letter of Interest (LOI) from KCGI, a privately held strategic growth capital firm. Under the terms of the agreement, KCGI would provide a Convertible Capital Debt Facility for up to twenty million ($20,000,000.00) dollars. The capital facility types are comprised of: Working Capital, Letter of Credit, Purchase Order Financing, Accounts Receivable Financing, Acquisition Financing, and Bridge Capital Required. Phase one of the financing provides a line of credit and the settling of outstanding debt with the company's creditors. In progress for some time now, this financing…