Flameret Signs Funding Agreement With Bibby Financial Services
LAS VEGAS, Oct. 12, 2011 /PRNewswire/ — Flameret, Inc. (OTC:BB: FLRE) (www.flameret.com), a leading provider of flame retardant products to various industries, today announced the purchase order finance facility with Bibby Financial Services.
Commenting on this announcement, Christopher Glover, CEO of Flameret, stated, “We are very pleased to be associated with Bibby. They will be working with us to grow Flameret’s business and have given us a purchase order facility of $250,000 together with a comprehensive receivable management with funding of $500,000.”
Mr. Glover added, “This will enable Flameret to manage its cash flow and reduce the amount of capital required to operate the business.”
About Flameret, Inc.
Flameret Inc has developed fire retardant products to suit a wide range of applications. These are marketed under the brand names; Flamex(TM), Ultra Flamex(TM) and Impex(TM). Flameret(TM) products are patented and held in the name of United American Inc.
Flameret’s numerous flame retardant products are applicable for the manufacturing of an array of textile applications for mattresses, bedding, furniture, and clothing. The Company has designed fire resistant textiles fire barriers for this US standard and the other world markets. Our complete fire retardant product lines should complete favourably with other competitors, because Flameret’s(TM) fire retardants are highly effective and non-toxic.
Flameret Fire Retardant and fire resistant applications will be sold to separate industries. These industries include the fire resistant textiles industry, the military and the energy extraction industry (oil fields), the aviation industry, and forestry services. The Company expects to manufacture and sell Flameret fire retardant products for the treatment of textiles lines at production stage for various textile products. In the near future Flameret also plans to offer a complete line of fire extinguishing products.
For information concerning Flameret Inc., please visit the Company’s website at www.flameret.com
This press release may contain “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company’s development program and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Company’s products, the uncertainty of patent protection for the Company’s intellectual property or trade secrets, and the Company’s ability to obtain additional financing. Such statements are based on management’s current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release.
Contact: I.R. International Consultants, Inc. (516) 816-2563
SOURCE Flameret, Inc.