Tootie Pie Company Secures $ 1 Million Credit Line
SAN ANTONIO, April 17, 2012 /PRNewswire/ -- Tootie Pie Company, Inc. (OTCQB: TOOT) announced that it secured a $1 million credit line with TCA Global Credit Master Fund. The proceeds will be used as "working capital" to fund expansion of the Company's Tootie Pie Gourmet Cafe locations.
"Part of our aggressive growth strategy calls for us to acquire existing Cafe locations that may become available, sometimes on short notice," said Don Merrill, President & CEO. "Being able to tap into this credit line will allow us to take advantage of these opportunities as they arise."
The Company currently owns and operates six Tootie Pie Gourmet Cafes in San Antonio, Austin, Fredericksburg and Dallas ( Frisco), TX.
About Tootie Pie Co.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafes, in-store sales, orders via telephone and internet on the Company's website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the OTCQB market under the symbol " TOOT." For additional information or to receive correspondence from Tootie Pie Company, please visit www.tootiepieco.com.
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