AdvanteXCEL Announces Negotiations of Private Placements.Business Editors TORONTO--(BUSINESS WIRE)--Nov. 29, 2000 AdvanteXCEL.com Communications Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AVXCF) (CDNX CDNX See Canadian Venture Exchange (CDNX). :YAX.U.) ("The Company"), a growing market leader in Internet communication systems, announces today that the private placements announced in its press release dated November 10, 2000 have been abandoned. The Company would also like to announce that it is in the process of negotiating two new private placements with arm's-length parties for a total of US$375,000. The first private placement is for US$125,000 and the second is for US$250,000. The private placees will subscribe for a total of 3,125,000 Units of AdvanteXCEL. Each Unit of AdvanteXCEL consists of one (1) common share of AdvanteXCEL priced at US$0.12 per share and one (1) share purchase warrant with each warrant entitling the holder to acquire one (1) additional common share of AdvanteXCEL at a price of US$0.25 for a period of two (2) years following the closing of the transaction. The placements are expected to close upon the receipt of conditional approval from 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) . The funds from the private placements will be used for working capital. AdvanteXCEL's systems and products integrate fax, voice and e-mail technologies allowing users to access messages at anytime from any location. No specialized software is needed. All that is required is a computer with an Internet connection for access to the AdvanteXCEL website. Company stock is publicly traded on the Canadian Venture Exchange (CDNX) Toronto Exchange under the symbol "YAX.U" and the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB under the symbol "AVXCF." AdvanteXCEL has offices in Toronto, Ontario Canada; Pittsburgh, Pennsylvania “Pittsburgh” redirects here. For the region, see Pittsburgh Metropolitan Area. Pittsburgh (pronounced IPA: /ˈpɪtsbɚg/) is the second largest city in the Commonwealth of Pennsylvania. , USA; and Buffalo, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , USA. Corporate headquarters are in Toronto. For more information, contact Mr. Marshall Weinstein, President of AdvanteXCEL, at marsh1w@fnmail.com or visit AdvanteXCEL's website at www.advantexcel.com. This news release may include statements that constitute 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. . Please be cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including risk factors contained in the Company's disclosure documents. The Canadian Venture Exchange has neither approved nor disapproved of the contents of this press release. ANYTIME, ANYWHERE, YOU'RE CONNECTED |
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