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Probe Manufacturing Secures $1 Million in Capital Funding

Dépèche transmise le 1 mars 2011 par Business Wire

Probe Manufacturing Secures $1 Million in Capital Funding

IRVINE, Calif.--(BUSINESS WIRE)--Probe Manufacturing, Inc., (Pink Sheets:PMFI), a global electronics design, manufacturing and services company, announced today it secured $1 million in working capital from Far West Capital, the leading provider in working capital financing in Texas, to focus on company growth and expansion.

“This is a critical milestone for Probe Manufacturing, as we continue our growth and expansion strategies.”

“Far West Capital has been instrumental in providing a customized solution that matches our capital requirements," said John Bennett, CFO of Probe Manufacturing. “This is a critical milestone for Probe Manufacturing, as we continue our growth and expansion strategies.”

As a result of a successful 2010, Probe Manufacturing which included quarter to quarter growth is in the process of expanding its customer and supply base both nationally and internationally as it executes on its strategic plan of becoming a global electronics company which the company believes will drive its revenue growth for 2011.

“At Far West Capital, our goal is to help companies, like Probe Manufacturing, succeed by providing working capital," said Cole Harmonson, CEO of Far West Capital. “Probe Manufacturing is positioned for long-term success and we’re proud to build a financing solution meet the company’s needs.”

About Probe Manufacturing, Inc.

Probe Manufacturing is a global electronics design, manufacturing and services company providing innovators with business services through our factory in California as well as factories Worldwide. Headquartered in Irvine, California, Probe has been serving industrial, instrumentation, medical, aerospace, defense, and automotive industries since 1994. Probe’s common stock is traded on the bulletin board under the symbol PMFI.PK. Further information is available on Probe’s website: www.probeglobal.com.

This release contains certain forward-looking statements (under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) with respect to whether the financing received from Far West Capital will be beneficial to the company and allow the company to achieve its planned growth and expansion strategies and whether the financing will position the company for long-term growth. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: uncertainties related to managing and deploying the capital and the company’s inventories; uncertainties relating to changes in general economic and market conditions; uncertainties regarding changes in the EMS industry; the uncertainties relating to the implementation of our global business strategy; and other risk factors as outlined in the company’s periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.