Franchise Holdings International, Inc. Defers Private Placement Offering
TORONTO, ON — (Marketwired) — 10/04/17 — Franchise Holdings International, Inc. (OTC PINK: FNHI), the parent company of Truxmart LTD Inc., an innovative manufacturer of high quality, functional, and aggressively priced tonneau covers for the light truck market, has delayed its previously announced $1,000,000 private placement for inventory and revenue development. Steven Rossi, CEO of FNHI, believes “it can bring better shareholder value by raising capital in the near future when market conditions are better.” The planned new capital raise will target between US $1,000,000 – $2,000,000. It will occur after FNHI achieves the following:
- Becomes current by filing Q1, Q2, and Q3 reports before the end of November, 2017
- Resumes & Completes listing on the Canadian Stock Exchange (CSE), with GunPowder Capital
- Relists with OTC:QB (with Blue-sky monitoring)
“Our market continues to grow rapidly,” Rossi commented. “Consumers, retailers, dealers, and distributors need an alternative to the present market leaders. As a result, the demand for our tonneau covers is overwhelming and requires new capital to meet it globally. Once we become current and achieve the CSE listing and OTC:QB quotation we will be ready to raise and deploy new funds and begin to achieve our highly ambitious growth plans and targets.”
Accredited investors interested in investing with FNHI can sign up in advance by visiting www.investfnhi.com, where there will be further details.
About Franchise Holdings International
Truxmart, Franchise Holdings International’s wholly owned subsidiary, was founded in 2011 to take advantage of the limited innovation provided by existing tonneau cover manufacturers. Tonneau covers have remained much the same in price and design since 2005 with one main company controlling a majority of the tonneau cover market. This dynamic market segment is in need of a new innovative manufacturer of high quality, functional, and aggressively priced tonneau covers. Truxmart has developed multiple products for all of the most prominent pick up trucks available in North America. Details of most products can be found at www.Truxmartcovers.com. Truxmart sells its products through master warehouse distributors, dealers, and online retailers in Canada and the U.S.
This document may contain forward-looking statements, relating to Franchise Holdings International Inc. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Franchise Holdings Internationals Inc. control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Franchise Holdings International Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information contact:
Franchise Holdings International
Source: Franchise Holdings International, Inc.
Released October 4, 2017