These clowns can screw up anything!
Net Shepherd Retracts Announcement
CALGARY, March 9 /CNW/ - Net Shepherd Inc. (CDNX: WEB) regrets to
announce that a press release has inadvertently been disseminated respecting a
potential $15 million financing. The information contained in the March 8
press release respecting the raising of equity capital is incorrect.
Due to its present financial condition, Net Shepherd has been considering
many alternatives to generate working capital. However, no commitment for an
equity financing has yet been received by Net Shepherd from any source.
In pursuing the potential alternatives, Net Shepherd had a number of
announcements prepared to deal with the different alternatives. As a result of
a miscommunication within the company, both press releases were disseminated.
Wim Heijting, Chairman of Net Shepherd and Chief Operating Officer of
Vanenburg Group, confirmed that an additional US $1.25 million has been loaned
to the Net Shepherd group of companies on an interim bridge financing basis
(bringing the total loaned by Vanenburg Group to the Net Shepherd group of
companies since November 2000 to US $3.75 million), but that no decision has
been made respecting any further financing.
Net Shepherd apologizes for the incorrect announcement. Efforts were
made, but were not successful, to retract the news release.
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
-0- 03/09/2001
For further information: Bill Fogg, President & CEO, Net Shepherd Inc., (626) 817-5641 |
