Global Axcess Corp Refinances And Re-Amortizes Credit Facility

JACKSONVILLE, Fla., Jan. 5, 2012 /PRNewswire/ -- Global Axcess Corp (OTC Bulletin Board: GAXC; the "Company"), an independent provider of self-service kiosk solutions, today announced that it has refinanced its $2.5 million credit facility with Fifth Third Bank, and secured a new, $3 million credit facility for potential M&A activity.

In June 2010, the Company entered into a $5 million term note with Fifth Third Bank.  This term note carries a three-year term, amortized over three years.  As part of the refinancing, the company re-amortized the principal balance of the $2.5 million debt balance as of December 31, 2011 from 18 remaining months to 36 months. As a result of the refinancing and re-amortization, Global Axcess expects to save approximately $833,000 in principal payments in 2012.

Additionally, the Company entered into a new $3 million credit facility with Fifth Third Bank.  This new credit facility will be used to fund future merger and acquisition activities of the Company.

Michael J. Loiacono, Chief Financial Officer of Global Axcess, commented, "We appreciate Fifth Third Bank's confidence in the prospects of Global Axcess as they work with us to fund our future merger and acquisition activity. In addition, their willingness to re-amortize our debt will significantly help our cash flow during 2012. This new line of credit will enable us to pursue accretive acquisitions to accelerate growth in our core ATM business, ultimately creating increased value for our shareholders."

About Global Axcess Corp  

Headquartered in Jacksonville, Florida, Global Axcess Corp was founded in 2001 with a mission to emerge as the leading independent provider of self-service kiosk services in the United States. The Company provides turnkey ATM and other self-service kiosk management solutions that include cash and inventory management, project and account management services. Global Axcess Corp currently owns, manages or operates approximately 5,300 ATMs and DVD kiosks in its national network spanning 43 states. For more information on the Company, please visit http://www.globalaxcess.biz.  For more information on Nationwide Money Services, please visit http://www.nationwidemoney.com.

Investor Relations Contacts:    Michael J. Loiacono    [e-mail]

    Hayden IR:    Brett Maas or Jeff Stanlis: [phone]     [e-mail] / [e-mail]

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as: "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties.  Forward-looking statements give the Company's current expectations or forecasts of future events, future financial performance, strategies, expectations, competitive environment, regulation, and availability of resources. The forward-looking statements contained in this release include, among other things, statements concerning projections, predictions, expectations, estimates or forecasts as to the Company's business, financial and operational results and future economic performance, and statements of management's goals and objectives and other similar expressions concerning matters that are not historical facts. These statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.