Main Street Properties, EF Hutton Affiliate, Purchases Facilities

NEW YORK, Sept. 2, 2016 /PRNewswire/ -- On September 1, 2016, Main Street Properties LLC (MSP) purchased commercial properties in Springfield Ohio.  Main Street Properties is an affiliate of EF Hutton America Inc. (symbol: HUTN).

The facilities are necessary for the expansion of EF Hutton's operating subsidiaries.  Each subsidiary will lease space from MSP.  The purchase closed on September 1, 2016.  MSP purchased from SpringForward, an Ohio institution dedicated to development in the Springfield area.  In connection with the transaction, EF Hutton issued Series A Preferred Shares and executed a Senior Note, both of which are described below.  The Company is currently pursuing additional financing to fund the Company's expansion in financial technologies and digital media.  The Company's growth plan includes: acquisitions, new facilities, implementing technology and marketing initiatives.

Guaranty of Notes
Two directors of the Company have agreed to guaranty payment of the unsecured Senior Note.  As compensation for the guaranty, the Company shall issue warrants to purchase up to 60 million shares of common stock with a strike price of $0.15 per common share.  The warrants are exercisable for a period of five years after issuance. 

The securities purchase agreement and guaranty agreements will be filed with EF Hutton's next quarterly report.

Springfield Ohio Facilities
Information about the facilities in Springfield Ohio will be released at a press conference at the Greater Springfield Chamber of Commerce in Springfield Ohio 10:00am on Friday September 2, 2016.

Not an Offer or Solicitation
This press release is a matter of record only.  It does not constitute an offer to sell or the solicitation of an offer to buy these or any other securities, nor shall there be any offer or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  A Form D relating to these securities has been filed with the Securities and Exchange Commission however, SEC has not approved the issuance or reviewed the offering materials.

Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release that are not historical facts may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934.

SOURCE EF Hutton