Target Logistics, Inc. Secures $20 Million Line of Credit from Wells Fargo

  
    
  
  
    
      Target Logistics, Inc. (Amex: TLG), a domestic and international freight 
      forwarder and logistics provider, today announced that the company has 
      secured a new $20M credit facility from Wells Fargo Bank National 
      Association (Wells Fargo) for a term of three-years, increasing the 
      company’s available credit to $20 million.
    
    
      Philip Dubato, Chief Financial Officer of Target Logistics said, “We 
      are extremely pleased that this new facility increases Target’s 
      available credit by a third with more favorable terms. Our new facility 
      will provide Target with greater financial flexibility to support its 
      strategic growth goals at a time when the pipeline of available and 
      potential acquisitions for Target is strong and expanding.”
    
    
      Target Logistics, Inc. provides domestic and international time definite 
      freight forwarding and logistics services through its wholly owned 
      subsidiary, Target Logistic Services, Inc. Target has a network of 
      offices in 35 cities throughout the United States and a worldwide agent 
      network with coverage in over 70 countries. Its freight forwarding 
      services include arranging for the total transport of customers' 
      freight, including providing door to door service, distributions and 
      reverse logistics.
    
    
      Statements contained in this press release that are not historical facts 
      are forward-looking statements as that term is defined in the Private 
      Securities Litigation Reform Act of 1995. Although Target Logistics 
      believes that the expectations reflected in such forward-looking 
      statements are reasonable, the forward-looking statements are subject to 
      risks and uncertainties that could cause actual results to differ 
      materially from those projections.