Bolivar Announces Closing of Financing.Business Editors TORONTO--(BUSINESS WIRE)--Sept. 7, 2000 Bolivar Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Ltd. ("Bolivar") (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BVG BVG Bundesverfassungsgericht (highest German court) BVG Bureau du Vérificateur Général du Canada (auditor general) BVG Best Value Guarantee BVG Berliner Verkehrs Gesellschaft BVG Borrowdale Volcanic Group .) announced today that it has closed in escrow a C$22 million special warrant financing arranged through Bermuda-based LOM (1) (LAN On Motherboard) Refers to building the Ethernet circuits directly on the motherboard rather than requiring that a separate network adapter be plugged in. (2) (Lights Out Management) See lights out server room. Capital Limited. LOM and Bolivar had previously signed a term sheet for a C$15 million to C$20 million financing; LOM exercised an over-allotment option of 10% due to high demand for the special warrants. Bolivar previously announced the execution of a letter of intent to purchase all of the issued and outstanding shares of Storage @ccess Inc. Storage @ccess is a storage service provider ("SSP (1) (Service Switching Point) The local exchange node in an SS7 telephone network. The SSP can be part of the voice switch or in a separate computer connected to it. ") which will provide consulting, implementation, maintenance and support to Internet Service Providers, Application Service Providers and other service providers requiring managed data storage. Storage @ccess will establish Storage Network Access Points ("SNAPs") at which data storage equipment will be collocated and from which Storage @ccess will provide its solutions and services. By allowing enterprises to manage and store data offsite, Storage @ccess eliminates the enormous space and personnel requirements that burden many organizations of all sizes. Additionally, it allows enterprises to reduce ongoing data storage management costs to a fixed, controllable expense, while adding storage-on-demand scalability with "pay as you grow" flexibility. The proceeds of the special warrant financing will be used to fund the working capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. of Storage @ccess, and will be placed in escrow pending regulatory approval and the results of Bolivar's special shareholder meeting called for October 13, 2000 to approve the Storage @ccess acquisition. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. |
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