American Technologies Group, Inc. Lands Funding Agreements; $6M in Commitments Will Fuel Marketing, R&D.MONROVIA, Calif.--(BUSINESS WIRE)--July 23, 1999-- American Technologies Group, Inc. (ATG ATG antithymocyte globulin. lymphocyte immune globulin (antithymocyte globulin equine, ATG, ATG equine, LIG) Atgam Pharmacologic class: Immunoglobulin Therapeutic class: Immunosuppressant ) (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ATEG ATEG Assembly for the Teaching of English Grammar ) announced today it has secured interim and long-term financing Long-term financing Liabilities repayable in more than one year plus equity. to support a strategic marketing effort to increase worldwide awareness of its IE catalyst-based product line, including The Force(R), the first airborne combustion enhancer, and continued advancement of its developmental and prototype-stage products and technologies. Interim funding of $1.0 million, with a $.5 million additional commitment, was secured through an equity agreement with an existing strategic partner and shareholder in the form of secured and redeemable convertible debentures. ATG has entered into an underwriting agreement Underwriting agreement The contract between a corporation issuing new publicly offered securities and the managing underwriter as agent for the underwriting group. Compare to agreement among underwriters. with First Liberty Securities, Ltd. to raise $4 million in an offering of one million convertible units at $4 per unit, each unit consisting of convertible revenue sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. bonds at 2.5% and one warrant at $10 per share. Lawrence J. Brady, ATG President, describes the importance of the funding agreements in ATG's strategic plan, "We are extremely pleased about the demonstrated confidence of a long-term business partner in the form of this equity agreement. We will put the immediate funding to use to assure the on-time delivery of our revolutionary water-purification technology-based products to market. We are further encouraged by the investment banking commitment by First Liberty. ATG is entering a new stage of growth for each of our proprietary technologies. An aggressive, proactive marketing effort is a key element in fostering and sustaining that growth. These capital infusions will fuel significant progress toward both our long and short-term objectives." American Technologies Group is an advanced science and technology company engaged in the development, commercialization and sale of products and systems using its patented and proprietary technologies. The Company's core technologies are the IE(TM) Catalyst, Vacuum Distillation Vacuum distillation is a method of distillation whereby the pressure above the liquid mixture to be distilled is reduced to less than its vapor pressure (usually less than atmospheric) causing evaporation of the least volatile liquid(s) (those with the highest boiling points). water-purification technology, and a high-energy particle beam. These technologies have applications in the nuclear, energy, medical, chemical, mining, oil, and personal and home care industries. The Force(R) is an environmentally safe automotive combustion product based on its IE Catalyst used to improve fuel economy and, over time, reduce carbon deposits. Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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