Barron Partners LP has agreed to advance XRG up to an additional $1.6 million for working capital and to satisfy outstanding financial obligations. XRG has reached definitive agreements with certain of its operating divisions and details are contained within 8K filings of XRG.
“With this reorganization, we can continue to stabilize our core operations. This additional funding from Barron allows us to refocus on growth and strategic initiatives,” said Richard S. Francis chief executive officer of XRG.
In addition to organic growth, XRG said it is targeting expansion through terminal agreements, brokerage agreements and acquisition of well-managed carriers.
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