ATLANTA, March 15, 2011 /PRNewswire/ — Vystar® Corporation
(OTC Bulletin Board:
VYST), the creator of Vytex® Natural Rubber Latex (NRL), a
patented, all-natural raw material that significantly reduces
antigenic proteins found in natural rubber latex, has secured $3
million in debt financing through Topping Lift Capital LLC.
The use of proceeds from the transaction will be used for
inventory and working capital purposes to fund expected Vytex NRL
growth in 2011.(Logo:
http://photos.prnewswire.com/prnh/20100203/CL48049LOGO)
William R. Doyle, Chairman, President and Chief Executive
Officer of Vystar, commented: “We have several agreements in place
with latex companies committed to selling products using Vytex NRL,
and it is imperative that we have a financing facility available to
support expected inventory requirements and working capital needs.
The debt facility through Topping Lift Capital will give us the
ability to fund expected purchase orders from the agreements that
we announced in 2010, and we will continue to announce updates as
we move ahead.”
Vystar’s Chief Financial Officer, Jack Callicutt, stated: “With
this new debt facility in place, Vystar is financially well
positioned to capitalize on future sales growth opportunities.
We have the strength to build sufficient inventory levels of
Vytex NRL to meet future projected demand, and look forward to
updating our shareholders as we continue to gain traction from our
partners.”
About Vystar CorporationBased in Duluth, GA, Vystar ®
Corporation (OTC Bulletin Board:
VYST) is the exclusive creator of Vytex Natural Rubber Latex
(Vytex NRL), a multi-patented, all-natural, raw material that
contains significantly reduced levels of antigenic proteins found
in natural rubber latex and can be used in ove
‘/>”/>
SOURCE