Earth Search Sciences Engages Houlihan Lokey Howard & Zukin to Raise $150 Million.Business EditorsKALISPELL, Mont.--(BUSINESS WIRE)--Jan. 4, 2001 Earth Search Sciences, Inc. (ESSI ESSI Ecole Supérieure en Sciences Informatiques (French) ESSI Eon Silicon Solution Inc ESSI Engineered Support Systems Inc. ESSI Education Statistics Services Institute ESSI European Systems and Software Initiative )(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :EDIS EDIS Emergency Department Information System (software) EDIS Emergency Digital Information Service (California) EDIS Electronic Data Information Source EDIS Edison National Historic Site ) announced today that it has engaged Houlihan Lokey Howard & Zukin (Houlihan Lokey) as investment bankers Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. to raise $150 million, the balance of funds necessary to capitalize its participation in the Navy's flagship hyperspectral satellite program, The Naval EarthMap Observer (NEMO Nemo, qui condemnare potest, absolvere non potest. He who may condemn may acquit. Dig. 50, 17, 37. ). Funds will also be raised to expand existing Earth Search programs, increase participation in current projects and provide for acquisitions and mergers designed to consolidate the industry. "We are very happy to be working with Houlihan Lokey," said Larry Vance, chairman of Earth Search Sciences, Inc. "We believe that with their help in raising the necessary funds, ESSI will be perfectly positioned to take advantage of the growing global market for remote sensing Deriving digital models of an area on the earth. Using special cameras from airplanes or satellites, either the sun's reflections or the earth's temperature is turned into digital maps of the area. ." Houlihan Lokey is an international investment bank serving more than 1,100 clients. The firm was founded in 1970 and has offices across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . "We believe Earth Search Sciences is well positioned to take advantage of the enormous potential of hyperspectral remote sensing," said Louis Paone, managing director of Houlihan Lokey. The remote sensing industry provides detailed information regarding the earth's surface Noun 1. Earth's surface - the outermost level of the land or sea; "earthquakes originate far below the surface"; "three quarters of the Earth's surface is covered by water" surface to governments, industry, educational institutions and the public at large. "The NEMO satellite is the final piece of the company's strategic plan to provide fused ground, airborne and satellite hyperspectral data products and services. Earth Search's goal is to be the first to market with a company capable of delivering global data to customers around the world for micro management of the earth's surface and its resources," said Vance. "We're moving full steam ahead." Earth Search, through its wholly-owned subsidiary, Alexandria-Virginia-based Space Technology Development Corporation, is the prime contractor for the NEMO satellite program. Launch is expected in 2002. For more information call 406/751-5200 or e-mail earthsrch@aol.com or www.earthsearch.com This news release includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that thee results predicted here will be realized. Actual results may vary from those represented and those variations may be material. |
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