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HearAtLast Holdings, Inc. (PINKSHEETS: HRAL), a leading provider of suitable affordable solutions to clients with hearing needs in the billion dollar hearing loss market, announced today that the Company has obtained CDN $1.5M in bridge financing from First Equity PTE, Ltd.
This bridge financing will allow HearAtLast to forge ahead and execute their strategic growth plan of expanding HearAtLast hearing stores within select Wal-Mart locations throughout Canada. The collaboration with First Equity has been ongoing since the end of 2009 and is the preliminary stage of a larger financing that is imminent. "As HearAtLast Holdings starts 2010 with a renewed and aggressive growth plan, this financing could not have come at a more opportune time," stated Louis Isabella, CFO for HearAtLast. "This bridge financing is the beginning of empowering HearAtLast to be the largest hearing company in Canada. We have already made tremendous strides in the last 2 years and this will not only ensure that we will be able to continue our growth but it will greatly increase brand name recognition that should increase customer traffic with our locations," added Isabella. Details of the Bridge Financing will be outlined and discussed in the upcoming announcement of the Company's long term financing commitment. About HearAtLast HearAtLast Holdings, Inc. is a Nevada corporation that owns and operates its wholly owned subsidiary, HearAtLast Inc., a chain of hearing stores specializing in the sale of digital hearing aids and testing services. The company develops, owns, and operates hearing aid clinics co-located within select Wal-Mart stores throughout Canada. HearAtLast facilities sell a selection of high quality brand name hearing aids and also offer complimentary screening tests, clinical hearing tests, high end earbuds and assistive listening devices. The Company's mission is to consolidate the highly fragmented hearing services industry while providing unparalleled service to the estimated 30+ million hearing impaired individuals throughout North America. After a prescription is approved, the independent on-site audiologists and hearing aid practitioners at HearAtLast utilize a refined process to dispense the latest in Name Brand digital hearing aids. For more information please visit the company website at: www.hearatlast.com Safe Harbor Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. Contact:
Investor Relations:
HearAtLast Holdings, Inc.
Aldo Rotondi
416-436-3795
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(by money.cnn.com)
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