Active Assets Announces $5 Million Financing; Largest B2B Online Industrial Exchange in Latin America Announces Private Placement.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--July 26, 2000 Active Assets & Associates Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ACTJF) (CDNX CDNX See Canadian Venture Exchange (CDNX). :AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. ) today announced a $5 million (Canadian funds) private placement with institutional and individual investors of up to 4 million units at $1.25 each. Each unit will consist of one common share and one half of a non-transferable warrant, with each whole warrant entitling the holder for a period of one year to purchase one additional share at $1.30. A commission is payable in respect of part of the transaction, the terms of which are subject to regulatory approval. Proceeds from the financing will be used to further develop the company's business-to-business online marketplace (www.ActiveAssets.com) for the sale of surplus industrial equipment and excess inventory. The company recently announced that its network of on-ground, established auctioneers and equipment dealers is now in place throughout Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Spain. Active Assets & Associates Inc. trades on the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) under the symbol AAA and on the U.S. over-the-counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. under the symbol ACTJF. The company is headquartered in Miami and now has over 60 offices throughout the Americas and Spain, including: Mexico City Mexico City Spanish Ciudad de México City (pop., 2000: city, 8,605,239; 2003 metro. area est., 18,660,000), capital of Mexico. Located at an elevation of 7,350 ft (2,240 m), it is officially coterminous with the Federal District, which occupies 571 sq mi ; Caracas, Venezuela; Sao Paulo, Brazil; Santiago, Chile; Bogota, Colombia; Buenos Aires, Argentina; Madrid, Spain; and Vancouver, British Columbia, Canada. ON BEHALF OF THE BOARD OF DIRECTORS Mario Szotlender, Director FOR MORE INFORMATION, PLEASE CONTACT: Eugene Toffolo, Corp. Communications Active Assets & Associates Inc. 401 - 409 Granville Street Vancouver, BC V6C 1T2, Canada E-Mail: EToffolo@ActiveAssets.com Tel: 604/688-5288 Fax: 604/682-1514 Toll Free: 877/688-5288 Website: http://www.ActiveAssets.com HEAD OFFICE: 8350 NW 52nd Terrace, Suite 101 Miami, FL 33166 Tel: 305/513-4335 Fax: 305/513-8774 The Canadian Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release. |
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