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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: JSB who wrote (21638)	2/22/2000 8:36:00 AM
From: Joe Copia	Read Replies (3) \| Respond to of 25711

More MEHO news :) Tuesday February 22, 6:01 am Eastern Time Company Press Release SOURCE: Meridian Holdings, Inc. Meridian Holdings, Inc. to Obtain $10 Million Credit Facility LOS ANGELES, Feb. 22 /PRNewswire/ -- Anthony Dike, MD, chairman and chief executive officer of Meridian Holdings, Inc. (``Meridian'; OTC Bulletin Board: MEHO), a development-stage company, announced today that the company has executed a term sheet with Heller Healthcare Finance, a division of Heller Financial, Inc. (Heller) (NYSE: HF - news), for the establishment of a line of credit up to $10 million for up to 80% of Meridian's net collectable accounts receivable. The revolving line of credit will be available to Meridian for use by the Meridian group of companies to provide ongoing working capital requirements for two years from the date of closing. Meridian anticipates closing within the next 30 days, subject to customary due diligence, credit approval and documentation. ``This credit facility, which we expect will greatly enhance our ability to identify and capitalize on major new business opportunities, is becoming available at a critical time in the company's development. We see this as a major positive step and as a catalyst that will enable us to capture market share and add significant revenue over its term,' said Dike. About Meridian Holdings Meridian Holdings, Inc. is an acquisition-oriented business enterprise focused on building, operating and managing a portfolio of business-to-business companies. Meridian seeks to acquire majority or controlling interests in companies engaged in e-commerce, e-communication, and e-business services, which will allow the holding company to actively participate in management, operations, and finances. Meridian's network of affiliated companies is designed to encourage maximum leverage of information technology, operational excellence, industry expertise and synergistic business opportunity. Meridian is committed to building shareholder value by positioning affiliated companies as independent business entities in which Meridian shareholders enjoy equity participation. Visit the company's web site at meho.com. NOTE: Statements in this news release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Material that is forward-looking may contain statements about expected future events and/or financial results that are forward-looking in nature. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties that may cause the company=s results to differ from such forward-looking statements. These include, but are not limited to, economic, competitive, governmental, technological and other factors discussed in the statements and/or in the company's filings with the Securities and Exchange Commission. SOURCE: Meridian Holdings, Inc.