Abazias.com Updates Results of Value Rich Conference with 5MM Dollar Term Sheet.GAINESVILLE, Fla. -- Abazias.com (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABZS), a leading online diamond purveyor, returns from the recent Value Rich Small Cap Financial Expo with success at hand. The Abazias presentation was well attended and led to several potential funding sources. As a result of their conference attendance, Abazias has welcomed interest from multiple funding sources, and has specifically received a term sheet from Cogent Capital Corporation for $5 million dollars worth of funding, within the past 48 hours. While negotiations are at an early stage, the terms outline both a private placement issued under rule 144 with standard restriction on open market transactions, and an equity swap Equity swap A swap in which the cash flows exchanged are based on the total return on some stock market index and an interest rate (either a fixed rate or floating rate). Related: Interest rate swap. assuming a minimum price of 9.5 cents for an aggregate of 52,631,580 shares for an aggregate amount of 5MM. While the term sheet is still subject to negotiation and may change, "Abazias is thrilled about such a level of funding and the possibilities associated with expanding our business model," commented Oscar Rodriquez, Abazias' 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. . Cogent Capital is a full service investment banking firm established in 1995 for nano-cap companies. Cogent also manages a Micro-cap fund focusing on companies with a market capitalization of less than 100MM. About Abazias Abazias.com showcases over 70,000 diamonds, valued at over $350 million on its site at www.abazias.com. Most of Abazias.com's diamonds are GIA Noun 1. GIA - a terrorist organization of Islamic extremists whose violent activities began in 1992; aims to overthrow the secular Algerian regime and replace it with an Islamic state; "the GIA has embarked on a terrorist campaign of civilian massacres" , AGS AGS American Geriatrics Society. or EGL EGL Enterprise Generation Language (IBM) EGL European Gemological Laboratory EGL Elegant Gothic Lolita (Japanese fashion) EGL Energy Grade Line EGL Eagle Global Logistics, Inc. certified. Abazias.com offers the "Couples Diamond(R)" which is required to meet even higher standards for cut, clarity and dimensions. Abazias.com is also a full-service jeweler offering a large selection of settings for stones purchased. For more information about Abazias.com, visit the Company's website at www.abazias.com. This press release may contain statements (such as projections regarding future performance) that are forward-looking statements as 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. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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