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Staffing 360 Solutions completes $4m convertible bond offering

"The placement of Series A bonds represents a major milestone in our capital raising goals," stated A.J. Cervantes, Vice Chairman and President of Staffing 360 Solutions. "This financing further supports Staffing 360's proactive consolidation strategy and is a significant growth driver. The principal allocation of the proceeds provided the necessary funds to close our most recent acquisition of PeopleSERVE, which places us comfortably beyond our previously announced threshold of $100 million in revenues on an annualized basis."

The capital raise was completed in conjunction with Accelerated Capital Group, Inc., an Irvine, California-based broker-dealer, who acted as placement agent for the offering to clients of Gentry Wealth Management, LLC, a Financial Services Firm with its principal offices in Scottsdale, AZ.

"Continuing our relationship with Staffing 360 through our recent investment of $4 million provides another strong alternative investment opportunity for our clients," said Christopher Bowman, Founder of Gentry Wealth Management. "We believe strongly in Staffing 360 Solutions' management team and their proactive consolidation model as they execute on their publicly stated objective of achieving $300 million in annual revenues in the next 24 months."

The Company's sizable growth to-date has been achieved by completing five acquisitions over the past year, including companies with operations in the United States and Europe. Management believes its resulting consolidated revenues place Staffing 360 Solutions in the top 30 public staffing companies in the United States.

The Series A 12% Convertible Bond Offering included equity consideration consisting of the Company's common stock to certain accredited investors. The private placement was conducted in reliance upon exemptions from registration pursuant to the provisions of Section 4(a)(2), Rule 506 of Regulation D.


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