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HUTN Closes Financing with JP Morgan Chase

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$2.1 Mil Credit Facility to Support Business Growth

SPRINGFIELD, Ohio, Aug. 09, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- HUTN Group Inc., a unit of HUTN, Inc. (OTC:HUTN) today announced that it closed on a new $2.1 million credit facility from JP Morgan Chase. The financing is non-dilutive and is guaranteed by company directors.  The first $1 million carries an interest rate of 3.90% and the remaining $1.1 million carries an interest rate of 3.94% and all  tranches mature on June 21, 2019.  Following this new agreement, total financing from JP Morgan Chase during 2018 amounts to $6.7 million.

HUTN, Inc. CEO Christopher Daniels commented, "We are pleased to expand our relationship with JP Morgan Chase, a leading global financial services firm and one of the largest banking institutions in the United States with operations worldwide. This credit facility will allow us to execute on our fintech business initiatives, fund our marketing efforts for the digital services offered by HUTN Inc.'s subsidiaries -- EF Hutton, Vibrant Mobility and Megga -- support customer development and user acquisition, and also enable the Company to develop additional innovative products and services."

As part of this strategy, Megga, Inc., a revolutionary approach to social media, has been beta-testing a new social media model that allows users to save money towards retirement as they use the Megga social internet platform, through a range of social networking apps that offer functions similar to other apps that users already use.  For more information visit www.meggalife.com

About HUTN, Inc.

HUTN, Inc. is a holding company whose subsidiaries provide B2C internet services. HUTN Group Inc., a wholly owned subsidiary of HUTN, Inc. is the parent company of:  (i) EF Hutton, Inc., a provider of digital finance and investment services, and a legendary brand that has been known for innovation for over 114 years; (ii) Vibrant Mobility, Inc., a mobile communications services provider; and, (iii) Megga, Inc., an integrated social networks and online services provider.  HUTN, Inc.'s subsidiaries offer innovative financial products designed to work for everyday people.  HUTN, Inc. stock is traded under the symbol HUTN. Learn more at www.efhutton.com.

Cautionary Note Regarding Forward-Looking Statements. Certain statements contained in this press release that are not historical facts may constitute "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. EF Hutton, Inc., Vibrant Mobility, Inc., and Megga, Inc. are subsidiaries of HUTN, Inc.

Contact Investor Relations
Company HUTN Inc.
Phone  (937) 323-2000
Email info@efhutton.com

 

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