Airtech Completes $5MM Financing.Business Editors DALLAS--(BUSINESS WIRE)--Feb. 22, 2000 Airtech International Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AIRG AIRG Association pour l'Information et la Recherche sur les maladies rénales Génétiques AIRG Asociación Independiente de Radiodifusoras Guatemaltecas (Independent Association of Guatemalan Broadcasters) ) announced today that the Company has completed a $5,000,000 equity financing, with West End Capital LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . The terms of the financing involve a 6% Convertible Debenture due 2002. Airtech 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. CJ Comu stated, "We are very pleased to complete this financing. The terms are not only in the best interest of the stockholders, but will allow the Company to have access to a large block of capital immediately, to invest in the growth of its operations. Proceeds will be used to fund inventory and ramp up for the anticipated sales volume this year. The relationship with West End will assist Airtech in numerous areas ranging from purchasing, marketing exposure and leveraging our international relationships." West End Capital commented, "We looked very close at the operations and future of Airtech and feel very comfortable and confident in doing this deal. The Company has the right products and management team to achieve great success. The only missing ingredient was the financing." Investment Banker EBI Securities Inc., Chairman, Steven Hinkle stated, "We are committed to helping Airtech achieve their long term goals and plans. With the influx of the $5MM, the Company should be poised for great growth." EBI Securities is a well respected NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Broker/Dealer based in Englewood, Colo. with 20 branch offices in the United States, and over 200 Registered Reps. Airtech is also evaluating a new Investor Relations firm to work with the institutional community to provide market support and a steady flow of news from the Company to the stockholders and investors that have invested in and are following the growth of Airtech world-wide. Today, Airtech's primary focus is on schools, hotels, office complexes, casinos and medical facilities. Airtech International Group Inc., (www.airtechgroup.com), is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. under the symbol (OTCBB:AIRG). Airsopure, Inc., (www.airsopure.com) is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Airtech, was founded in 1997 and has franchisees throughout the United States, Canada and Europe. Investors may obtain more information by contacting the Company at 972/960-9400, Fax: 972/960-9395. The Company first achieved market recognition with its air purification technology by providing a simple solution using advanced technology and engineering that allows smokers and non-smokers to co-exist in restaurants and bars. Its corporate customers include: Southwest Airlines, Alphagraphics, El Chico's, Bennigan's, TGI Friday's, Del Frisco's Double Eagle Steakhouses, Sullivan's, and many other companies. Safe Harbor Statement under 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: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward looking statements. These risks are described in the Company's Form 10-KSB for the fiscal year ending May 31, 1999 filed with the Securities Exchange Commission. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion