AARO Completes First Round of Private Fundraising; Wireless Internet Provider to Receive $26 Million Capital Infusion.Business Editors OKLAHOMA CITY--(BUSINESS WIRE)--July 5, 2000 AARO AARO Association of Americans Resident Overseas AARO Automotive Aftermarket Retailers of Ontario Broadband Wireless See wireless broadband. Communications, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :AARO), a subsidiary of AAROW Environmental Group, Inc., is pleased to announce the completion of a Rule 506 fundraising offering. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. AARO Chief Financial Officer Mike Canfield, the company could net $26 million from the private placement. "The initial phase of the private offering generated $2 million for necessary equipment purchases and much needed working capital. Under the terms of this 506 offering, we can call an additional group of warrants which will raise $24 million when AARO's stock price sustains $4.50 per share for five consecutive business days," Canfield said. AARO President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Ron Baker pointed to the offering as a milestone in ensuring the successful build-out of the company's high-speed wireless network in the western and central United States The Central United States is sometimes conceived as between the Eastern United States and Western United States as part of a three-region model, roughly coincident with the Midwestern United States plus the western and central portions of the Southern United States; the term is . "AARO will need to purchase a great deal of equipment and technical expertise as we expand our wireless Internet access from Oklahoma to Texas, Colorado and beyond. As AARO enters the applications service market, our capital needs will only continue to grow. This fundraising effort puts us on the right track toward achieving that goal," Baker said. AARO intends to bring its services to more than 30 central and western U.S. communities by the end of 2001. About AARO AARO Broadband Wireless Communications, Inc. provides wireless connectivity up to 155 MBps. AARO New World services, such as unified communications, IP telephony and videoconferencing services are delivered via a highly secure, carrier-class IP network. For additional news and information, please visit us at www.aarowireless.com. This document includes forward-looking statements, made under the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provision 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 are generally identifiable by the use of words such as "believe," "expect," "intend," and other words of similar nature. These statements are based on management's current expectations, estimates and projections that are subject to risk and uncertainties, including, but not limited to, success of negotiations, availability of financing, political currency, regulatory, competitive and technological developments. Consequently, actual results could differ materially from those forward-looking statements. AAROW Environmental Group, Inc. does not undertake, and specifically disclaims, any obligations to update forward-looking statements, which speak only as of the date made. |
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