The Translation Group, Ltd. Announces Completion of Private Placement.Business Editors The Translation Group, Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :THEO THEO - A frame language. ["Theo: A Framework for Self-Improving Systems", Mitchell et al, in Architectures for Intelligence, K. VanLehn ed, Erlbaum, 1989]. ) announced today that it has successfully completed Phase I of a new capital raise through a private placement. This was accomplished through a privately held New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of based investment banking company. It is further expected that additional financing will occur in the fourth quarter of this year, on a best-efforts basis best-efforts basis 1. An agreement by an investment banker to do its best to oversee but not guarantee the sale of a security issue in the primary market. See also underwriter. 2. , in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with a written agreement. The Company recently announced that it has reduced the conversion (exercise) price of its publicly traded stock purchase warrants to $.40 per warrant. Accordingly, one warrant plus $.40 will get the warrantholder 1 share of Translation Group, Ltd. Class "A" Common Stock. In addition, the Board has extended the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of it publicly traded warrants to March 31, 2003, the end of its fiscal year. This press release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Translation Group believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those in the forward looking statements contained herein include, among others, the need to obtain additional capital, the extent of current or future competition, the need to protect its proprietary rights to its technology and the need to capture the markets for its technologies and products. Interested parties are also urged to refer to additional information regarding the Translation Group, which is contained in its reports to the Securities and Exchange Commission. |
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