CaminoSoft Completes Follow-on Private Placement and Loan Extension with Renaissance Capital.WESTLAKE VILLAGE, Calif. -- CaminoSoft Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CMSF CMSF Canadian Merit Scholarship Foundation CMSF Canada Millennium Scholarship Fund CMSF Chief of Mission Systems Flight CMSF Congregation of the Missionaries of St Francis ), a leading provider of Information Lifecycle Management Information Lifecycle Management refers to a wide-ranging set of strategies for administering storage systems on computing devices. Specifically, four categories of storage strategies may be considered under the auspices of ILM. (ILM) solutions for Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. 2000/2003 and Novell NetWare (operating system, networking) Novell NetWare - Novell, Inc.'s proprietary networking operating system for the IBM PC. NetWare uses the IPX/SPX, NetBEUI or TCP/IP network protocols. It supports MS-DOS, Microsoft Windows, OS/2, Macintosh and Unix clients. environments, today announced it has completed a $600,000 private placement with Renaissance Capital Renaissance Capital is a major investment bank concentrating on Russia and the Commonwealth of Independent States (CIS). Renaissance Capital is wholly owned by management and employees. Major lines of business are: sales and trading, investment banking and asset management. Group, Inc. comprised of common stock at a five-day average closing price. Renaissance Capital Group, Inc. has also agreed to extend the maturity date of a $750,000 loan at 7% interest for an additional eighteen months in exchange for 150,000 five-year warrants to purchase the company's common stock at an exercise price equal to the five-day average closing price of the stock referenced above. "During the past year, we have substantially strengthened CaminoSoft's position and interaction with the company's technology and channel partners," said Michael Skelton, chief executive officer of CaminoSoft. "As a result, we have gained significant business traction with these organizations, and our sales pipeline has been expanded to include many partner-supported enterprise class opportunities. The additional support from Renaissance through this financing and loan extension will enable CaminoSoft to further leverage these relationships and opportunities, as well as strengthen the company's presence and marketing efforts internationally. Our recent addition of sales and technical resources in the UK is a direct result of the growing demand in the European market for CaminoSoft's ILM solutions." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Robert Pearson Captain Robert Pearson was a soldier and politician from Alberta, Canada. Robert was first elected as a non-partisan to the Legislative Assembly of Alberta in the 1917 Alberta general election as the top pick in the, At large soldiers' and nurses vote from voters fighting , senior vice president and director of corporate finance of Renaissance Capital Group and member of CaminoSoft's board of directors, "These financial transactions underscore Renaissance Capital's ongoing commitment to CaminoSoft and confidence in its prospects for growth and profitability. Our support enhances CaminoSoft's ability to leverage the growing number of new opportunities that its industry-leading business partners are presenting to the company." About CaminoSoft CaminoSoft Corporation is a developer and manufacturer of software solutions that address the storage, management, and safeguarding of vast quantities of data generated in a wide range of businesses and applications. The company's Information Lifecycle Management solutions for Microsoft Windows 2000/2003 and Novell NetWare environments include comprehensive administrative policies that allow organizations to reclaim storage resources, dramatically reduce backup and recovery time, control file retention, and achieve regulatory compliance. CaminoSoft has established alliances with industry-leading technology partners, and the company markets its Storage Management and High Availability solutions worldwide through commercial distributors, value-added resellers, and systems integrators. For further information, visit www.caminosoft.com. This release may contain forward-looking statements that reflect the management's current views of future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to regulatory action, capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and competing products. Any changes in such assumptions or external factors could produce significantly different results. |
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