3P Networks Inc. Signs Agreement for $12 Million Financing."Secures Funding to accelerate subscriber growth and for strategic acquisitions in the Caribbean" NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- 3P Networks Inc. (the "Company") (Pink Sheets:TPNW) one of the fastest growing providers of integrated telecommunications services, announces that it has signed an underwriting agreement Underwriting agreement The contract between a corporation issuing new publicly offered securities and the managing underwriter as agent for the underwriting group. Compare to agreement among underwriters. with Quote Platform Syndicate Inc. to raise $12 million 5 year term, convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. financing. This financing is scheduled to close August 13th, 2007. Upon closing, the Company will commence strategic acquisition of targeted telecommunications assets and WiMax frequencies required to build its triple play (telephone, television and broadband internet See broadband. ) throughout the Caribbean. Furthermore, the Company will accelerate the growth of its triple play subscriber base in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . Quote Platform Syndicate Inc. is a syndicate of brokerages, investors, and institutional financiers domiciled in Europe and Asia. Their niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. is high yield instruments in the world's emerging markets. Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of 3P Networks Inc. ("the Company"), or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its plan of operations when needed; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors. |
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