EDMARK ATTRACTS NEW CAPITAL FROM LOCAL VENTURE FUND
EDMARK ATTRACTS NEW CAPITAL FROM LOCAL VENTURE FUND REDMOND, Wash., June 29 /PRNewswire/ -- Edmark Corp.
(NASDAQ: EDMK) today announced that it has agreed to sell 381,000 shares of its common stock to Roanoke Investors' Limited Partnership, a venture fund that invests in emerging Pacific Northwest companies. The investment will raise $2 million for Edmark and the shares will be sold to Roanoke at $5.25 per share. Frances Conley, a principal of Roanoke, will be joining the company's board of directors.
"We are extremely pleased to have Roanoke as a shareholder and to add Fran Conley to our board," said Sally Narodick, chief executive officer of the company. "This financing will allow company to move aggressively forward in our plan for developing and marketing our new preschool educational products." Edmark expects the first of those products to be released in September 1992. The company also announced that Carolyn Bickford, formerly the director of marketing at Egghead Software, has been promoted to vice president-Retail Marketing and Sales for Edmark. "Carolyn brings us valuable experience in launching retail products," said Narodick. Edmark is a publisher of educational software and books, with more than 20 years of experience in developing early learning products. -0- 6/29/92 /CONTACT: Sally Narodick of Edmark, 206-861-8200/ (EDMK) CO: Edmark Corp.; Roanoke Investors' Limited Partnership ST: Washington IN: PUB SU: PER
JH-SC -- SE003 -- 4536 06/29/92 09:07 EDT
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|Date:||Jun 29, 1992|
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