Datametrics Corporation Completes Financing.Business Editors ORLANDO, Fla.--(BUSINESS WIRE)--Dec. 5, 2000 DMTR DMTR Dounreay Materials Testing Reactor DMTr dimethoxytriphenylmethyl chloride , LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a company controlled by the chairman of and group of investors in Datametrics Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : DMTR), announced the closing of a debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay of $3.6 million, which DMTR intends to loan to Datametrics for working capital on terms to be determined. Citibank, N.A. provided the debt financing. Bruce Galloway, Chairman of Datametrics, stated, "I am extremely pleased on the completion of this financing. This will allow the Company to strengthen its operations and have available working capital to implement its multi-prong business plan." Galloway further stated, "that during these uncertain financial times, it's a vote of confidence to have completed this financing." In addition to this financing, the Company expects to receive an additional $1 million as the sole beneficiary of a life insurance policy on its former 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. and President, Garland White. Since Mr. Galloway and his management team assumed control of the Company on August 18, 2000, the Company has accomplished the following significant milestones: - New CEO and management team - Debt and equity financing of $4.1 million - Re-entered the military-manufacturing business - Unveiled the Condor(R) 3300 - Signed a distribution deal with T2(TM) solutions - Hired an experienced Chief Technology Officer - Restructured the company's business units About Datametrics Corporation Datametrics Corporation, the leader in concurrent thermal transfer See thermal wax transfer printer and direct thermal printer. technology, specializes in design, development and manufacture of high-speed color printers, high-speed resolution non-impact printers/plotters and ruggedized computers, printers and workstations for government, defense, industrial and commercial markets. The Company's MadeMyWay subsidiary is a business-to-business Web site that offers customized apparel and products. MadeMyWay.com products - shirt, mousepads, mugs, caps and other products - will include company logoed shirts, school spirit gear, organization booster and alumni promotional clothing, as well as contract events, conferences, concert and reunion related merchandise. Datametrics has operations in Florida and New Jersey. For more information, contact Datametrics by telephone at 407-251-4577 or visit www.datametricscorp.com. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements 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. These statements involve risks and uncertainties, such as quarterly fluctuations in operating results, the timely availability of new products, the impact of competitive products and pricing, and other risks detailed in the Company's filing with the Securities and Exchange Commission, including the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended October 31, 1999. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made in this press release. |
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