BluePoint Data Storage Announces Management Led Financing.Business Editors/High-Tech Writers BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Oct. 10, 2003 BluePoint blue·point also blue point n. A small oyster (Crassotrea virginica) found chiefly in coastal waters of the eastern United States and usually eaten raw. Data Storage, Inc. (Pink Sheets:BLPDF) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BLP BLP Barbados Labour Party BLP Bible Literacy Project BLP Bypass Label Processing (IBM) BLP Buddhist Liberal Party (Cambodia) BLP Bonded Logistics Park BLP Borland Learning Partner ), an established provider of managed storage, availability and data protection services, today announced a private placement led by the management team. The financing is to provide additional working capital. The non-brokered private placement offering is for 3,000,000 units at a price of CAD$0.15 per unit, for total gross proceeds of up to CAD$450,000. Each unit consists of one common share and one non-transferable share purchase warrant, with each whole warrant entitling the holder thereof to purchase an additional common share for a period of four months at a price of CAD$0.25 per share. The placement will close in multiple tranches and is expected to complete by November 7, 2003. If the placement is fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of , the company will have 11,961,704 shares outstanding after completion. Private placement shares will be restricted from sale for four months from the issuance date. A minimum of 2,000,000 units shall be reserved for purchase by management of the company. About BluePoint Data Storage BluePoint delivers managed data protection, availability and recovery solutions that ensure the protection and availability of corporate data and information technology systems while reducing the total cost of ownership. BluePoint manages these systems with unparalleled storage and networking expertise, guarantees high performance and availability, and ensures systems are on par with the current state-of-the-art. Services are supported through a 24/7 service and monitoring center. 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. This release may contain 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. that involve risks and uncertainties. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BluePoint or industry results to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, demographic changes, regulation, major technology changes, timing of product introductions, competition and the ability of BluePoint to attract and retain key employees. As of the date of this release, BluePoint has 8,961,704 common shares issued and outstanding, and 10,210,096 fully-diluted. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has neither approved nor disapproved the contents of this press release. |
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