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SORICON COMPLETES $3 MILLION PRIVATE PLACEMENT

 BOULDER, Colo., April 27 /PRNewswire/ -- Soricon Corp. (NASDAQ: SRCC and SRCCW) has completed a $3 million private placement with The Walden Group and Sequoia Capital. The venture capital firms purchased Series A Convertible Preferred Stock at $4.25 per share.
 "The proceeds of the financing will be used for Soricon's working capital requirements," said the President and Chief Executive Officer Neville Vere Nicoll. "In addition, we are extremely pleased to have two very successful venture capital firms investing in Soricon."
 Based in Boulder, Soricon is a leading supplier of check verification products. The current primary markets for the company's products are point-of-sale check verification for retailers, check and document processing for banks at the teller window and other businesses which process large numbers of documents.
 -0- 4/27/93
 /CONTACT: Carl Thompson of Carl Thompson Associates, 303-494-5472, for Soricon/
 (SRCC)


CO: Soricon Corp. ST: Colorado IN: SU:

MC -- DV004 -- 1306 04/27/93 11:26 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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