A.C.L.N. Limited Announces Completion of Private Placement.PTE-DE-MONACO--(BUSINESS WIRE)--Sept. 28, 1999-- A.C a.c., adv the abbreviation for ante cibum, a Latin phrase meaning “before eating.” .L.N. Limited (NASDAQ/NM:ACLNF), today announced the completion of a private offering of approximately $8.2 million of common stock under an exemption of Regulation D. The proceeds of the offering are expected to be used to acquire up to two used car carrier vessels, for working capital, and for general corporate purposes. As a part of the offering, the Company issued 612,140 shares. The shares sold as a part of the offering are "restricted" and have not been registered under the Securities Acts. "The company is pleased with the outcome of this financing. In addition to raising growth capital, public float will increase by 50 percent, and we have further enhanced our visibility within the U.S. investment community," commented Joseph Bisschops, Chairman of the Board of A.C.L.N. Limited. A.C.L.N. Limited arranges for the shipment of automobiles from Antwerp Antwerp, city, Belgium Antwerp, Du. Antwerpen, Fr. Anvers, city (1991 pop. 467,518), capital of Antwerp prov., N Belgium, on the Scheldt River. , Belgium Belgium (bĕl`jəm), Du. België, Fr. La Belgique, officially Kingdom of Belgium, constitutional kingdom (2005 est. pop. 10,364,000), 11,781 sq mi (30,513 sq km), NW Europe. to North and West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. and the Middle East. In addition, A.C.L.N. Limited provides shipping, stevedoring and custom-clearing services. Forward Looking Statements This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in 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 statements are based on the current expectations of management and are subject to a number of risk factors and uncertainties that could cause actual results for performance of the company to differ materially from those described herein. Such risk factors and uncertainties include, without limitation, those which are associated with: recent political uncertainty in certain regions where the Company's ports of destination are located; restrictions on the transferability of deposited shipping fees; changes in the demand for used automobiles in the countries of the Company's ports of destination; changes in the prices and supply of used automobiles; economic downturns and currency fluctuations in the countries of the Company's ports of destination; the availability of specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. automobile transport vessels; working capital risks associated with growth of the Company's operations; and competition with other automobile transporters. |
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