HUTN Closes on $4.7 Million Bridge Financing

SPRINGFIELD, Ohio, Feb. 28, 2018 /PRNewswire/ -- HUTN, Inc. (OTC: HUTN) closed on a $4.65 million financing secured by specific company owned assets, primarily commercial property. HUTN Group will allocate the resources to support refinance pay-off higher rate secured debt, corporate expenses, and working capital to market new digital services by subsidiaries EF Hutton® , Inc., Vibrant Mobility, Inc. and Megga^TM, Inc.  The principal is due on March 1, 2020 and carries a fixed rate of 10.75%. The financing is non-diluted. The company provided no equity rights in connection with the financing - no conversion right, no stock, no warrants. The company plans to refinance the bridge loan with funding from its next financing.

According to HUTN CEO Christopher Daniels, "this financing, together with the $4.6 million financing provided last month by JP Morgan, strengthens our capital structure and allows us to focus on product development and marketing."

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 113 years; (ii) Vibrant Mobility, Inc., a mobile communications services provider; and, (iii) Megga, Inc., an integrated social network 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.  

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SOURCE HUTN, Inc.