SecurFone America Negotiating Financing Options; Term Sheet Received for $4 Million Financing.SAN DIEGO--(BUSINESS WIRE)--Aug. 24, 1999-- SecurFone America Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:SFAI SFAI San Francisco Art Institute SFAI State Fiscal Analysis Initiative ), announced that it is negotiating new financing with several investment banking firms to meet the company's growth plans. The Company has received a Term Sheet for one funding offer, and plans to negotiate the final terms. Under the terms of the $4.0 million financing commitment, SecurFone would obtain "as needed as needed prn. See prn order. " funding to support the company's growth. The Company is currently negotiating final terms to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. at closing. Principal terms of the $4.0 million funding commitment have been approved by the SecurFone Board of Directors, There can be no assurances that SecurFone will be able to obtain adequate funding to support future growth under terms and conditions acceptable to the Company. SecurFone America is a telecommunications company now addressing opportunities in the electronic commerce and Internet markets. Founded in 1996, SecurFone is an OTC BB stock and trades under the symbol SFAI. The company is based in San Diego. Statements made in this news release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based on management's belief as well as assumptions made by, and information currently available to, management 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. Actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors. |
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