IMSCO Technologies, Inc. Announces $10,000,000 Financing Commitment.NORTH ANDOVER, Mass.--(BUSINESS WIRE)--July 31, 1998--IMSCO Technologies Inc. (NASDQ/OTC-BB:IMSO IMSO International Mobile Satellite Organization IMSO International Military Student Office IMSO International Military Student Officer IMSO Integrated Micro Systems Operation IMSO International Mathematics and Science Olympiad IMSO In My Stupid Opinion ), ("the Company"), is pleased to announce that its investment banker, Sands Brothers & Co., Ltd., a member of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , Inc., has arranged a manufacturing financing commitment of up to $10 million for the Company. This lending facility will be secured by a pledge of the Company's assets; including equipment, purchase orders, inventory and accounts receivable. Mr. Alexander T. Hoffmann, 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 IMSCO stated, "this is truly a major achievement for our Company. We now have in place a commitment for a credit facility that will allow us to accept purchase orders and manufacture our proprietary, patented "Decaffeinator Basket"and Separator Filters for the commercial coffee industry, which includes fast food, office coffee service, restaurants, food service and convenience stores. Sands Brothers & Co., Ltd. is a NYSE NYSE See: New York Stock Exchange member Investment Banking firm with offices in New York and San Francisco. IMSCO Technologies, Inc. is a Separation Technology Company based in North Andover, MA., that has developed a patented, proprietary process that decaffeinates brewed coffee on demand. In addition, the IMSCO Process has the potential to improve the effectiveness, accuracy and speed of blood tests, the separation of viral DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. and RNA RNA: see nucleic acid. RNA in full ribonucleic acid One of the two main types of nucleic acid (the other being DNA), which functions in cellular protein synthesis in all living cells and replaces DNA as the carrier of genetic from blood and blood products, water purification and desalination desalination or desalting Removal of dissolved salts from seawater and from the salty waters of inland seas, highly mineralized groundwaters, and municipal wastewaters. , purification of essence in the perfume industry, purification of flavors and protein purification for the pharmaceutical industry. This press release contains forward-looking statements which are made pursuant to the safe-harbor 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. Expressions of future goals and similar expressions including without limitation "believes", "should", "hope", "expects", "expected", "does not currently expect" and "forecast", reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
CONTACT: Shannon Partners
John McGill, 860/739-8967
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