CaminoSoft Receives Additional Funding.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 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, announced today it has received $750,000 from 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 ("RENN") managed funds in the form of a two year secured note with 7% interest. The funds will be used to support business expansion and operations. As part of the funding, CaminoSoft issued five year warrants to purchase an aggregate of 1,415,094 shares of Common Stock at an exercise price of $0.53 per share. Chief Financial Officer Stephen Crosson made the following comments with regard to the funding, "We received this funding from RENN as a continuing show of their support and commitment for CaminoSoft and its prospects for growth and profitability. With this new financing in place, we can leverage our business partnerships and the opportunities they have been presenting to CaminoSoft. During the year we have expanded our executive management team with the addition of Michael Skelton as C.E.O. to focus the organization on sales. We have strengthened our position with partners to help promote and distribute our products and we have increased our sales pipeline including many large enterprise opportunities." About CaminoSoft Corp. CaminoSoft Corporation is a developer and manufacturer of software solutions that store, manage, and safeguard vast quantities of data created in a wide range of business and application settings. CaminoSoft's Information Lifecycle Management solutions for Microsoft Windows 2000 and Novell NetWare include comprehensive administrative policies that allow organizations to reclaim storage resources, dramatically reduce backup and recovery time, and control file retention. The company's Storage Management and High Availability solutions are available 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. www.caminosoft.com |
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