(Applies to: MNOC USW Q)
Mentor On Call, Inc. Structures Financing With U.S. West and Others
LOS ANGELES, Mar 22, 2000 (BUSINESS WIRE) -- Mentor On Call, Inc. (OTCBB:MNOC)
has issued to U.S. West (NYSE:USW) a Warrant To Purchase Common Stock dated
March 7, 2000.
U.S. West has been granted a warrant to purchase up to 691,115 shares of common
stock of Mentor On Call, Inc. at an exercise price of $2.00 per Warrant Share,
void after March 7, 2005.
U.S. West has also been granted the right to purchase up to five percent (5%) of
the equity securities sold in the Next Financing Round of Mentor On Call, Inc.
in a private placement of at least $1,000,000.00.
The warrant is subject to exercise of a further Commercial Agreement between
Mentor On Call, Inc. and U.S. West.
U.S. West is a leading broadband and communications service provider, with more
than $13 billion in annual revenues. U.S. West leads the industry in deploying
next - generation broadband ADSL and VDSL Internet access and data/video
services. The company has more than 2 million miles of deployed fiber in the
U.S., provides local exchange services to more than 25 million customers in 14
states and provides wireless services to more than 500,000 customers and data
services to more than 800,000 customers nationally.
U.S. West is merging with Qwest Communications International Inc. to create a
company with a market capitalization of more than $70 billion, headquartered in
Denver and employing 64,000 people worldwide. Together, the two firms will have
more than 3 million miles of deployed fiber in the U.S. and worldwide, 29
million customers and a local network that is 99.2 percent digitally switched.
Mentor On Call, Inc. has also received from its attorneys a Warrant To Purchase
Common Stock issued to the Drake International Group dated March 17, 2000.
The Drake International Group have been granted a warrant to purchase up to
691,115 shares of common stock of Mentor On Call, Inc. at an exercise price of
$2.00 per Warrant Share, void after March 17, 2002.
In consideration, the Drake International Group has agreed to begin testing of
the Mentor On Call E-Learning system for possible use within the Drake
International Group.
The Drake International Group was formed in 1951 and has a presence in 13
countries including Canada, United States of America, United Kingdom, Australia
and South Africa.
Drake has grown to become a global organization recognized as a world leader for
it's expertise in enabling companies to improve their profitability and
productivity through flexible staffing, permanent recruitment, training and
development. Drake offers "state of the art" assessment tools resulting in
better retention rates, a more streamlined hiring process and lower training
costs. See www.drakeintl.com for more information.
Mentor On Call, Inc. has also received from its attorneys a Warrant to Purchase
Common Stock issued to Vision Corporate Consulting, One Chase Plaza, 58th Floor,
New York, NY dated March 1, 2000.
Vision Corporate Consulting have been granted a warrant to purchase up to
100,000 shares of common stock of Mentor On Call, Inc. at an exercise price of
$3.50 per Warrant Share, void after March 1, 2003.
In consideration, Vision Corporate Consulting shall provide Investor Relations
services for Mentor On Call, Inc. Please contact Scott Parker at (212) 509 -
4565 for more information.
Mentor On Call, Inc. is hiring two world class consultants to assist in ongoing
further developments to the proprietary Mentor On Call, Inc. E-Learning System.
Alan R. Vilcius will join Mentor On Call, Inc. after leaving his Senior Vice
President role as Risk Manager for Mondex International, a subsidiary of
MasterCard International, in London, England. Mondex is the "smartcard" payment
system developed for cash-like electronic micropayment utilizing integrated
circuit (IC) technology.
Mr. Vilcius will be responsible for creating an algorithm solution to address
the need of identifying learner variance for the system administrator of the
Mentor On Call E-Learning System.
Lucille Hamacek was Director of Research and Development for Pathfinder Learning
Systems Corporation of Toronto, Ontario and will contribute to the Joint
Application Development meetings with clients of Mentor On Call, Inc.
Ms. Hamacek has designed courses and assessments to run on Pathfinder Learning
System, Pathware and Question Mark/Perception.
Please see www.mentoroncall.com at Products for Power Point demonstration.
Mentor On Call, Inc.James N. Rodgers - President
This release may contain forward-looking statements regarding Mentor On Call,
Inc.'s business, customers or other factors that may affect future earnings or
financial results of Mentor On Call, Inc. Such statements involve risks and
uncertainties, including but not limited to potential issues relating to
markets, inability to introduce new products, ability to retain key personnel
and key customers and other factors, which could cause actual results to vary
materially from those expressed in or indicated by the forward-looking
statements.Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.-0-
CONTACT: Vision Corporate Consulting
Investor Relations Scott Parker, 212/509-4565 |
