Cartago Springs Water Corp. - A Subsidiary of Provident Ventures Corp. - Negotiates in Excess of $3,200,000 USD of Equity Investment.CALGARY, Alberta--(BUSINESS WIRE)--Oct. 14, 1997--Cartago Springs Water Corporation, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Calif. has just finalized See finalization. negotiations to accept a direct equity injection in excess of $3,200,000 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. . This represents a share distribution of 1,523,809 at a deemed value of $1.50 USD per share. This follows on the heels of last week's announcement that the parent company, Provident Ventures of Calgary, had just placed, a $1,000,000 placement bringing the total capital raised to in excess of $4,200,000, subject to regulatory approvals. These injections of equity capital have enabled Cartago Spring's management team to finalize the first two steps of a multi-stepped marketing and business strategy to distinguish itself in the water industry. Cartago has instituted a strategy and has invested in the latest technology within its corporate infrastructure to minimize overhead and fixed operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. while maximizing efficiency. During this period of growth the functions of field sales, distribution and administrative support have been expanded and relocated to. CARTAGO SPRINGS WATER CORPORATION 1801 Avenue of the Stars, Suite 311 Los Angeles, CA 90067 Phone: 310/284-7990 Building on the company's initial successes, Cartago's management believes it is well equipped to crystallize crys·tal·lize also crys·tal·ize v. crys·tal·lized also crys·tal·ized, crys·tal·liz·ing also crys·tal·iz·ing, crys·tal·liz·es also crys·tal·iz·es v.tr. 1. on the opportunities for growth they have identified, through immediate acquisitions and further capitalizations. For further information please contact: Provident Ventures Corporation Mr. Terry Hagen, President 403/278-2272 The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved of the information contained herein. CONTACT: Provident Ventures Corporation Mr. Terry Hagen, 403/278-2272 |
|
|||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion