Printer Friendly

No Borders, Inc. Announces Full Subscription of $1,000,000 Private Placement.

LOS ANGELES -- No Borders, Inc., (OTCBB:NBDR), a Nevada Corporation, announced today that its $1,000,000 Private Placement is fully subscribed and partially funded, with the balance of the subscription to be received by the Company on or before February 28, 2005.

Dr. Raul Hinojosa, the President and Chairman of No Borders, states, "We are pleased to have our first Private Placement fully subscribed within this short period of time. We limited this Private Placement to $1,000,000 because we believe that as we illustrate the successful implementation of our business plan, the investment of additional capital, if required, would be provided under even more favorable terms. We intend to illustrate to the financial world that a for-profit company can provide lower cost services and products to the massive underserved population of recent immigrants living in the United States and the families they left behind, and in doing so generate significant profitability by deploying new and cost efficient technologies as well as creative and unique business models."

About No Borders

No Borders is in the business of providing a debit and stored value card platform through which a variety of financial and commercial services and products can be offered to residents of developing countries and to immigrants from those countries who reside in the United States and send money back home on a regular basis. No Borders offers significantly lower cost money transfers and long distance telephone services, initially focusing on Mexico, El Salvador and Ecuador. According to Inter-American Development Bank, Latin American immigrants in the US sent back home an estimated close to $40 Billion in 2004, and that growth for 2005 is expected to increase by over 20%. The Company believes that it will accelerate its penetration into this growing market, first by reducing the excessive costs currently charged to the consumer, and second by offering a full range of financial and commercial services and products to this emerging transnational market, at significantly lower prices.

For further information, contact: Jim Hock, No Borders' Shareholder Relations Department at 1-866-337-8725

Certain statements in this release and other written or oral statements made by or behalf of the company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the company's services and projects and the company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 15, 2005
Previous Article:NetWolves Reports Second Quarter Financial and Operating Results.
Next to Attend ValueRich Small Cap Financial Expo; Online Diamond Company to Present at World's Largest Small Cap Expo, March 9-12, 2005 in...

Related Articles
Thunderwood Resources Inc. acquires the right to earn a 30 percent interest in 42 copper-zinc-gold properties in Manitoba and Saskatchewan from Aur...
Cartaway Resources Corporation - Rights Offering.
China Diamond Corp. Announces $500,040 Private Placement.
Ced-Or: Realization of a Private Placement of $1,000,000.
China Diamond Corp. Closes $763,230 Private Placement.
Richview Resources Inc. Completes Its Amalgamation With Maple Gold Resources Limited And Completes Private Placements.
id-Confirm Secures $1 Million Financing.
Tone Resources Limited: Brokered Private Placement.
Insignia Receiving $1.4 Million From Private Placement.
MicroTRAKgps Announces over Subscription of Private Placement.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters