 Eastside Distilling, Inc. NASDAQ: EAST, today announced it has closed a new asset-based revolving credit facility of up to 8 million in available principal amount with Live Oak Bank backed by the Companys spirits inventory. The Company expects to use this new credit facility to pay off and replace the two existing inventory facilities of 5 million capacity with KFK and TQLA and to fund general working capital. In addition to the increased availability of up to 3 million, the new credit facility offers a number of potential advantages to Eastside, including a reduction in the interest rate. The new credit facility, coupled with the 2 million Accounts Receivable factoring agreement signed in December 2019, provides the Company with up to 10 million of aggregate financing to refinance existing debt and fund growth in the business. 