Milwaukee Iron Arena Football, Inc. Secures $15 Million Financing From Kodiak Capital Group, LLC
March 2, 2010 - Arena Football League (AFL)
Milwaukee Mustangs News Release
MILWAUKEE, Wisc. (Marketwire) - Milwaukee Iron Arena Football, Inc. ("Milwaukee Iron") (OTC.BB:GCNV), an Arena Football League team that plays its games at the Bradley Center in downtown Milwaukee, announced today that it has signed a $15 million equity line with Kodiak Capital Group, LLC of New York City.
Ryan Hodson, Managing Director of Kodiak stated, "We are excited about being a partner to Milwaukee Iron Arena Football and provide funding to the company. The facility provides management inexpensive and flexible access to capital when and as needed in order to continue the growth efforts already achieved by the Arena Football League."
Under the terms of the agreement, the Milwaukee Iron may elect to receive as much as $15 million from Kodiak in common stock purchases over the next three years.
"We have selected Kodiak Capital Group to invest in our company because they understand the operations and functions of a professional sports team," said Andrew Vallozzi III, President and CEO of the Milwaukee Iron. "Kodiak will provide us with the necessary capital to reach our short and long term goals, allowing us to take another step in the direction to making the Milwaukee Iron one of the most successful sports franchises in the country."
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