Classica Group, Inc. Closes Private Placement.Business Editors LAKEWOOD, N.J.--(BUSINESS WIRE)--Dec. 17, 2002 Classica 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 : TCGI), announced today that it has completed a private placement of shares of it Common Stock at market from which the Company received proceeds of just over $1,000,000. After giving effect to this transaction, The Classica Group will have approximately 5.1 million shares outstanding. The common shares issued in this transaction are subject to a registration rights agreement which, among other provisions, requires that the Company file to register the shares with the Securities and Exchange Commission within 30 days. The Classica Group will use the proceeds from this financing to fund the growth of its microwave technology segment. "The results we have achieved in our microwave technology segment over the past several months have attracted the attention of top-quality investors," said Scott Halperin, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of The Classica Group, Inc. "This financing represents solid investor commitment and strengthens our cash position to allow us to continue the development of our Company's infrastructure to serve our growing list of seriously interested potential customers." The Classica Group, through its subsidiaries Classica Microwave Technologies, Inc. and C.G.T.I. - Classica Group Technologies Italia, S.r.l.,(Italy) develops and markets superior microwave heat processing systems for Sterilization sterilization Any surgical procedure intended to end fertility permanently (see contraception). Such operations remove or interrupt the anatomical pathways through which the cells involved in fertilization travel (see reproductive system). , Pasteurization pasteurization (păs'ch  rĭzā`shən, -rīzā`shən), partial sterilization of liquids such as milk, orange juice, wine, and beer, as well as cheese, to destroy , Drying, and Sanitizing for the Food, Pharmaceutical and other industries. The Company's microwave heat processing systems aid in extending refrigerated re·frig·er·ate tr.v. re·frig·er·at·ed, re·frig·er·at·ing, re·frig·er·ates 1. To cool or chill (a substance). 2. To preserve (food) by chilling. shelf life through pasteurization and permit extended non-refrigerated shelf life through sterilization, both without the use of irradiation or chemical additives. In addition, the Company has developed unique systems for rapid and uniform drying and sanitizing. For more information: visit www.classicagroup.com. Except for historical information contained herein, the matters discussed in this news release are forward looking statements that involve risk and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of 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. However, actual results may differ materially due to a variety of factors, including without limitation the presence of competitors with broader product lines and greater financial resources; intellectual property rights and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , needs of liquidity; and the other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. |
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