Mace Security International Secures Additional Funding to Support Growth Initiatives

Mace Security International (OTCQB:MACE), a recognized leader in personal self-defense sprays, announced acquiring an additional unsecured subordinated loan of $150,000 from a Board member, as of March 21, 2024. This funding marks the second tranche, reaching the board-approved limit of $300,000 for such financial instruments. The loan, bearing an annual interest rate of 10%, is set to mature by July 27, 2025, or upon the repayment of the company’s senior line of credit, depending on which comes first.

The obtained funds are earmarked for covering legal and professional fees amassed during the company's traditionally weakest revenue quarter, the first quarter. Additionally, the finances will support the costs associated with launching new marketing activities on Amazon and promoting the recently introduced Mace-Salt pepper ball launcher. The launcher has already garnered significant interest following its presentation at the January Shot Show.

With a global reputation for its Mace® Brand products, Mace Security is poised to leverage this additional financial influx to enhance its market position and expand its product offerings, including law enforcement and security professional tools, consumer defense sprays, and personal safety products. The initiative is expected to build on the existing interest and demand for the company's innovative products.