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ALTERNATIVE DISTRIBUTORS ANNOUNCES PRIVATE PLACEMENT OF SHARES

 MEDFORD, Mass., Sept. 13 /PRNewswire/ -- Alternative Distributors Corporation announced today that it has raised $250,000 through the private placement with the American Heritage Fund of 1,250,000 shares of its common stock.
 The fund was also granted warrants to purchase an additional 250,000 shares of common stock for $1.00 per share on or before Nov. 10, 1993. The agreement with the fund provides that the proceeds of the financing are to be held in trust and cannot be used to pay the principal amount of bank loans, or any prior trade indebtedness of the company except in full satisfaction of a creditor's claims at not more than 20 percent of the amount owed.
 -0- 9/13/93
 /CONTACT: Anthony Strangie, chairman and CEO of Alternative Distributors Corporation, 617-395-0353/


CO: Alternative Distributors Corporation ST: Massachusetts IN: SU: OFR

GK-CK -- NY097 -- 1474 09/13/93 16:47 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
Words:150
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