WEST DES MOINES, IA / ACCESSWIRE / August 5, 2014 / Spotlight Innovation, Inc. (OTCQB:STLT) has entered into a second Letter of Credit with Denver Savings Bank, located in Denver, Iowa, in the amount of $250,000.00, effective July 29, 2014.
Cristopher Grunewald, President and CEO of Spotlight Innovation said, "We are appreciative of our relationship with Denver Savings Bank. Our partnership with such a prominent bank is an important component for the Company as we shore up our capital position to enable us to fulfill our goal of positively impacting health, and we are excited to be fortifying that on-going relationship."
Cosigner on the Denver Savings Bank Letter of Credit, and investor in Spotlight Innovation, is northern Iowa entrepreneur Tim Meyer said, "Spotlight Innovation has the road map for developing quality-of-life-enhancing biotechnologies, and bringing those advancements to people in need. I am pleased to be on board with these efforts and am look forward to working together to change people’s lives for the better."
About Spotlight Innovation, Inc.
Spotlight Innovation, Inc. (OTCQB: STLT) specializes in identifying, acquiring and incubating companies which have unique intellectual property (IP) in the medical sector. The Company utilizes relationships with the nation’s leading academic and institutional IP developers to locate promising IP technologies with potential for market share capture. With our support, development resources and strategic planning expertise we believe we can develop IP that will have a positive effect on healthcare. We intend to partner with proven sector leaders on commercialization once technologies are fully developed. Additional information available at www.spotlightinnovation.com.
Forward Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
Spotlight Innovation, Inc.
Investor Relations Contact
Source: Spotlight Innovation, Inc.