BluePoint Data Storage Announces over-Subscription and Completion of Management Led Financing.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. -- 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, announces the over-subscription and completion of a private placement led by the management team. The private placement offering was over-subscribed by 25% for a total sale of 2,500,000 common shares at CAD$0.20 per share, for total gross proceeds of CAD$500,000 with no warrants. The company now has 22,211,704 (23,702,872 fully diluted) shares outstanding after completion. Private placement shares will be restricted from sale for four months from the issuance date. The financing is to provide additional working capital to support accelerated sales and marketing efforts, and to purchase capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) required to support revenue growth. Management led the financing by purchasing 1,357,500 shares, or approximately 54% of the total placement. 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 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 22,211,704 common shares issued and outstanding, and 23,702,871 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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