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Petrone Worldwide, Inc. Obtains Financing and Retires Toxic Debt

/EIN News/ -- Weston, Florida , Sept. 14, 2017 (GLOBE NEWSWIRE) -- Petrone Worldwide, Inc. (OTCQB: PFWI), today announces that the company has secured $100,000 in financing that carries a low interest rate along with no prepayment or penalty charges and it has simultaneously retired $100,000 in additional toxic debt. The company continues its efforts to raise funds to support its expansion and growth plans; although, using its best efforts through instruments such as the most recent financing and structured securities purchase agreements.

The Company feels that this will infuse new capital into the business through purchases of a combination of common stock and/or long-term debt.

Victor Petrone, CEO of Petrone Worldwide, Inc., commented, "This benchmark today is beneficial for the shareholders and The Company. Our goal is and will continue to be to lower The Company's cost of capital and focus on the present acquisition and business opportunities we have in our sight. We look forward to securing future financing as we seek to add better value for Petrone Worldwide and its shareholders."

Petrone Worldwide, Inc. will continue to update both the public and shareholders on a regular basis by way of press releases, financial statements and other SEC disclosures.

About Petrone Worldwide, Inc. (OTCQB: PFWI):
Petrone Worldwide, Inc. is a leader in the hospitality industry with global operations capabilities. Now providing third party logistics for overseas manufacturing companies attempting to sell their goods in North America, PFWI sells and markets products under its own proprietary name and acts as distributor for a wide variety of companies to the hospitality trade. For more information visit www.petroneworldwide.com.

Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.

Source: Uptick Newswire

For further information, please contact: 
Victor Petrone 
2200 N. Commerce Parkway 
Suite 200 
Weston, FL 
33326 
954-529-2000

Distribution channels: Building & Construction Industry