Newport Capital Holdings to Undertake $5 Million Equity Raise for HomeSeekers.com.Business Editors RENO, Nev.--(BUSINESS WIRE)--May 10, 2001 HomeSeekers.com (Nasdaq:HMSK), a leader in online real estate technology and services, has entered an agreement with Newport Capital Holdings of Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif. Newport Capital will undertake the capital raise of $5 million dollars in new equity in a combination of common and preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. offering. NCH NCH National Coalition for the Homeless NCH National Coalition for History NCH National Council for Hypnotherapy (UK) NCH National Center for Homeopathy NCH Notched NCH National Claims History NCH Nielsen Clearing House has committed to funding of $750,000 immediately, the first $500,000.00 of which closed May 9, 2001. The balance of funding is scheduled to complete within the next 60 days. Funds will be used for a combination of day-to-day operations and future business growth of HomeSeekers, primarily in its eBay and Realty Alliance marketing initiatives. Both of these initiatives are expected to be major contributors to HomeSeekers' revenue as they ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale over the coming months. John Giaimo, chief executive officer of HomeSeekers.com, stated, "I look forward to working with Newport Capital and the corporate finance expertise they bring to HomeSeekers. Many new strategic and general financing opportunities as they relate to new equity have presented themselves to HomeSeekers in light of the recent 5-year contract with the Realty Alliance Real Estate Group and our just-ramping eBay alliance-marketing program. Newport Capital brings many years of experience and a solid record of successful corporate finance to the table, and will manage the process and assist the company and investors." John Vasquez, president of Newport Capital Holdings stated, "We are delighted to be engaged by HomeSeekers.com. Our due-diligence has shown that the company has proven itself as a leader within the Real Estate Technology industry and feel the company's current and future potential and shareholder value are gravely understated. Newport Capital's responsibility will be to maximize investment portetentials and opportunities for HomeSeekers.com, as well as working closely on Wall Street and major investor relations Investor relations The process by which the corporation communicates with its investors. . We are very good at getting the investment community to see the true market value in companies which we work with." About Newport Capital Holdings Newport Capital Holdings was founded in 1996, and is a regional player in corporate financings. The company has provided aggregate financing of $43,560,000 in both bridge and equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. in the form of debt, equity and equity line of credit over the last 12 months. The company's most recent successes have been in both public and private companies. Those being Innovative Gaming Corp. of America symbol IGCA IGCA Italian Greyhound Club of America IGCA International Garden Centre Association IGCA Inherently Governmental/Commercial Activities on NASDAQ & ApprovalFinder.com in the private market. About HomeSeekers.com, Incorporated HomeSeekers.com, Incorporated is a leading provider of technology to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and International real estate industries. The company provides technology solutions and services targeted to brokers, agents, Multiple Listing Services (MLS See multilevel security. ), builders, consumers and others involved in the real estate industry. Product and services offerings can be viewed at the company's primary website, http://www.homeseekers.com. This press release contains various forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning 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 regarding future results of operations and market opportunities that are based on HomeSeekers.com's current expectations, assumptions, estimates and projections about the company and its industry, including, specifically the Company's ability to raise equity, sell technology products and services to Realty Alliance members firms and agents over the five-year term of the agreement, as contemplated. Investors are cautioned that actual results could differ materially from those anticipated by the forward-looking statements as a result of risks and competitive and other factors. These factors, along with other potential risks and uncertainties are discussed in HomeSeekers.com's reports and other documents filed with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion