Coach Industries Group Secures $6.0 Million Equity Commitment from Fusion Capital.Business Editors/Automotive Writers FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--May 25, 2004 Coach Industries Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CIGI CIGI Computer Image Generator Interface CIGI Career Information Guidance India CIGI Coach Industries Group Inc. )("Coach") announced today it has entered into a financing agreement with Fusion Capital Fund II, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Chicago based institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. , whereby Fusion Capital shall fund up to $6.0 million through the purchase of a maximum of 4.0 million shares of the Common Stock of Coach, subject to the shares being registered on a Form SB-2 with the Securities and Exchange Commission. These funds will be used for working capital and, according to Francis O'Donnell Chairman and 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 Coach, "to pursue our acquisition strategy and strengthen our position as a leading manufacturer in the luxury automotive and limousine market place through our two operating subsidiaries, Springfield Coach Industries Corporation, Inc. and Commercial Transportation Manufacturing Corporation." ``This capital commitment demonstrates significant confidence in the future of Coach and its current management team,'' commented O'Donnell, "This financing gives us tremendous flexibility and greater financial security," Mr. O'Donnell added. Mr. O'Donnell continued, "We expect Fusion Capital to be a valuable and long-term financial and business partner for Coach.'' About Coach Industries Group, Inc. Coach Industries Group, Inc. is a holding company focused on the luxury automotive and limousine manufacturing industry. Its two wholly-owned subsidiaries, Springfield Coach Industries Corporation, Inc. ("Springfield") (www.limoland.com) and Commercial Transportation Manufacturing Corporation ("CTMC CTMC Canadian Tobacco Manufacturers' Council CTMC Continuous Time Markov Chain CTMC Classical Trajectory Monte Carlo CTMC Central Texas Medical Center (San Marcos, Texas) CTMC Communication Theory Mini-Conference ") (www.uscoach.com), are among the largest and most respected limousine manufacturing companies in the United States. About Fusion Capital Fusion Capital Fund II, LLC (www.fusioncapital.com) is a broad based investment fund, based in Chicago, Illinois. Fusion Capital makes a wide range of investments ranging from special situation financing to long-term strategic capital. Fusion Capital invests in publicly traded companies that demonstrate a clear business vision and the ability to execute on this vision. 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. Statement under 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: The Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. |
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