BrandPartners Group, Inc. Announces a $5,000,000 Financing From Canaan Partners for Its Willey Brothers, Inc. Subsidiary.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 23, 2001 BrandPartners Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BPTR) today announced that Corporate Mezzanine mez·za·nine n. 1. A partial story between two main stories of a building. 2. The lowest balcony in a theater or the first few rows of that balcony. II, L.P. ("CMII"), a fund advised by Canaan Partners, has provided Willey Brothers, Inc. with $5,000,000 in financing. Canaan Partners, an investment firm which manages approximately $2 billion in investment capital, is active in advising companies on tactical operational issues, potential strategies and positioning for growth. Willey Brothers will use the proceeds from the financing primarily for growth capital, consistent with its business plan to aggressively expand its leading domestic market position. Willey Brothers provides banks and other financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies turnkey solutions for branding services, including design and implementation of retail environments, retail positioning, branch network optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. , training, merchandising and creative services Creative Services are a subsector of the creative industries, a part of the economy that creates wealth by offering creativity for hire to other businesses. Examples include:
As part of the transaction, CMII acquired from BrandPartners warrants for the purchase of 405,000 shares of common stock of BrandPartners at an exercise price of $.01 per share. Jeffrey S. Silverman, Chairman and Chief Executive Officer of BrandPartners, said, "CMII's investment in our Company reflects confidence in our growth strategy and the management team assembled to execute our plan." In addition to the Willey Brother's business, BrandPartners Group, Inc. provides market research through its iMapData subsidiary. This press release contains "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. " as defined in 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. These statements are based on the Company's current expectations of future events and are subject to a number of risks and uncertainties that may cause the Company's actual results to differ materially from those described in the forward-looking statements. Should one or more of these risks or uncertainties materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. , or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. These risks and uncertainties include, among others, the Company's ability to identify appropriate acquisition candidates, complete such acquisitions and successfully integrate acquired businesses; changes in the Company's business strategies or development plans; effects of competition; the Company's anticipated growth within the financial services industry; the Company's ability to obtain sufficient financing to continue operations; and general economic and business conditions, both nationally and in the regions in which the Company operates. These and other risks and uncertainties are disclosed from time to time in the Company's filings with the Securities and Exchange Commission including the "Forward-Looking Statements" section of the Company's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2000, in the Company's press releases and in oral statements made by or with the approval of authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: personnel. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments. |
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