UP TO $20 MILLION TO BE RAISED FOR STONE MEDIA.DALLAS--(BUSINESS WIRE)--June 24, 1996--Stone Media Corporation (StoneMedia) has entered into a financial advisory agreement with Nithipat Capital Public Co., Ltd. (Nithipat) in connection with a proposed $20 million convertible debt offering on StoneMedia's behalf. Proceeds of the offering will be used to finance the continuing initial phase of StoneMedia's fiber optic network in Texas. Earlier this year, Nithipat served as StoneMedia's financial advisor in a private placement of StoneMedia's common stock with Alpha CommSat Co., Ltd. a Thai company. In connection with that private placement Alpha CommSat has purchased up to 4.5 million shares at $1.00 per share, and has the right to purchase another 500,000 shares at that price. The board of directors recently authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: retaining Nithipat to complete this round of financing. Elbert G. Tindell, chairman of StoneMedia, stated, "We are pleased to inform our shareholders that Nithipat has agreed to serve as our financial advisor once again. Their proven track record, expertise and vast experience in these matters provides us great confidence in implementing this round of financing. We look forward to working with them and achieving our capital goals." The initial phase of StoneMedia's fiber optic network includes the installation of transmission lines in parts of Central and North Texas across electric utility right-of-ways. The initial lines will be installed from Killeen to Belton to Temple. Fiber will then be from Temple to Waco, north to Dallas, then south to Austin. The various phases of the Texas network as planned include 2,700 miles of transmission fiber, as well as fiber for distribution. The fiber optic network will allow StoneMedia to offer subscribers numerous real-time video, information and interactive services, such as Internet+(TM), Entertainment on Demand, video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. , distance learning, games, home shopping Home Shopping commonly refers to the electronic retailing / home shopping channels industry, which includes such billion dollar companies as HSN, QVC, eBay, ShopNBC, Buy.com, and Amazon.com. and other multimedia applications. It is estimated that when completed the Texas network will reach a market of up to 5 million customers. The total cost of deploying the Texas network and related equipment is estimated to be approximately U.S. $1.5 billion. Alphatec Group -------------- The Alphatec Group is a conglomerate conglomerate, in business conglomerate, corporation whose asset growth, often very rapid, comes largely through the acquisition of, or merger with, other firms whose products are largely unrelated to each other or to that of the parent company. of diversified Thai companies This is a list of major companies based in Thailand. Please note that the list is incomplete and does not have thousands of companies of different sizes. Links should only point to the Wikipedia article, and not to a webpage URL. founded by Charn Uswachoke. It comprises over 20 companies and 16,000 employees with total annual revenues exceeding $(US) 1 billion. Some of the affiliates include Alpha CommSat, Alphatec Electronics, Alpha-Texas Instruments, Alphatel, SubMicron, CS Plastics, NSEB, Pan Speed, AEC AEC US Atomic Energy Commission Noun 1. AEC - a former executive agency (from 1946 to 1974) that was responsible for research into atomic energy and its peacetime uses in the United States Atomic Energy Commission and Alphatec Shanghai. Alpha CommSat ------------- Alpha CommSat is the telecommunications arm of the Alphatec Group. Somkuan Uswachoke is the chairman and chief executive officer of the company. He is also a director of one of the Alphatec Group's newest companies, Alpha-Texas Instruments, announced by Alphatec earlier this year as a joint venture with Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. to construct a $1.2 billion semiconductor manufacturing plant at Alphatec's industrial park near Bangkok Bangkok (băng`kŏk'), Thai Krung Thep, city (1990 pop. 8,538,610), capital of Thailand and of Bangkok prov., SW Thailand, on the east bank of the Chao Phraya River, near the Gulf of Thailand. , Thailand. The president of Alpha CommSat is Tarworn Yaowakun, former Deputy Governor of the Thailand's communications capabilities. In January, 1996, Alpha CommSat executed a stock purchase agreement with StoneMedia whereby Alpha CommSat agreed to purchase up to 5 million shares of StoneMedia's common stock at one dollar per share. StoneMedia ---------- StoneMedia is a Texas based communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. and network integration company, publicly traded as STNM on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on stock exchange. Offices are located in Dallas, Temple and Austin, Texas, Middlebury, Conn., Bangkok, Thailand and Amsterdam, Holland. General Information: Symbol STNM Exchange OTC NASDAQ 52 Week Range $2.0620 2/15/96 Price $1.00 6/18/96 Price $1.75 Industry Interactive Telecommunications Average Daily Volume 19,000 Shares Outstanding 20,135,350 Epoch Technology ---------------- Epoch Communications, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of StoneMedia, develops real-time interactive technology. StoneMedia utilizes the technology in developing or integrating communications systems and networks to deliver real-time information and entertainment. The delivery system, ReflectMedia(TM), will allow StoneMedia subscribers to connect to numerous video information interactive services, such as Internet+(TM), Entertainment on Demand, video conferencing, distance learning, games, home shopping and other multimedia applications. CONTACT: StoneMedia Corporation Kandy Jones, 512/261-7061 kjones@eden.com or Keith Stone, 817/770-0003 keith@epoch.net |
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