Bulova Technologies Group, Inc. News

Bulova Technologies Group, Inc. Announces Signing of Letter of Commitment for New Financing July 14, 2011 - Business Wire

CLEARWATER, Fla.--(BUSINESS WIRE)-- Bulova Technologies Group, Inc. (Pink Sheets:BLVT.pk - News) (“BulovaTech” or “the Company”) announced today that it has signed a Letter of Commitment with a private investor who will provide a $3,000,000 loan to the Company with terms and market rate interest, appropriate for loans of this type. Funds will be used for general corporate purposes and working capital. The investor has advanced partial funding of approximately 20% of the commitment as of this date. The closing date of the entire commitment is anticipated not later than July 31, 2011.

Stephen L. Gurba, President, Chief Executive Officer, and Chairman of the Board of Directors stated, “This loan will provide the Company with the funds necessary to execute our Business Plan and achieve the 5 Year Forecast we published on May 18th.”

About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc. and Bulova Technologies (Europe) are headquartered in Clearwater, Florida. Bulova Technologies Europe is registered with the United States Department of State Directorate of Defense Trade Controls (DDTC) as a broker.

Bulova Technologies Ordnance Systems located in Mayo, Florida, is a load, assembly, and pack (L.A.P.) facility specializing in fuzes, safe and arming devices and explosive simulators.

Please visit our website at www.BulovaTechGroup.com for more information.

Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management.

For Bulova Technologies Group, Inc.
Thackston Consulting
Brett Thackston, 404-303-8350

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