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Technology Stocks : Timios National Corporation

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To: Glenn Petersen who wrote (3)	12/4/2005 7:52:10 PM
From: Glenn Petersen	Read Replies (1) of 44

Celerity has entered into a term sheet with Cornell Capital Partners LP, whereby Cornell will invest $50 million in the common stock of Celerity. The term sheet is subject to the signing of a definitive agreement and the transaction will not close until the company has changed its status from a Business Development Company. The purchase price for the shares, which can be drawn down in increments of $1 million, will be a not unreasonable 98% “of the Market Price. The "Market Price" is the lowest closing bid price ("VWAP") of the Common Stock during the five consecutive trading days after the Advance Notice.” The company is free to seek funding from other sources. Celerity is required to file a registration statement before it can begin to draw down on the $50 million. That could take some time. The term sheet and related documents can be found at: sec.gov Cornell Capital Partners, LP was launched in 2001, and has made over 120 investments, many of them PIPEs, totaling over $800 million. The website for Cornell Capital Partners: cornellcapital.com

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