CathayOnline Engages Janssen/Myers Associates as Exclusive Placement Agent for Preferred Stock Offering
Business Wire - November 09, 1999 19:22
NEW YORK--(BUSINESS WIRE)--Nov. 9, 1999--CathayOnline Inc. (OTCBB:CAOL) is pleased to announce it has engaged Janssen/Myers Associates, L.P., a New York based Investment Banking Firm, to act as the exclusive placement agent for a Series "A" convertible preferred stock offering of up to $6 million on "Best Effort" basis.
Janssen/Myers will also act as Financial Consultant and will assist in other Investment Banking and acquisition financing.
Upon completion of the offering, CathayOnline will apply for a listing of its common shares on the NASDAQ Small Cap market. The offering will permit CathayOnline to continue its quest to become a fully diversified Internet services company targeting Chinese speaking people particularly in China, Hong Kong, Singapore, Taiwan, and Malaysia.
CathayOnline, through its subsidiaries and Joint Venture partners, currently operates and manages one of four presently operating ISP's licensed by the Province of Sichuan, China, and provides e-mail and e-messaging services in the Chinese language. The Company believes that its position as one of the first ISP's in Sichuan will, using this competitive advantage, provide an opportunity to build brand loyalty among customers and advertisers. The Company plans to develop a consistent revenue stream with long-term growth potential.
CathayOnline is aggressively striving to become a leading fully-diversified Internet company targeting Chinese-speaking markets of the world, with primary focus in the People's Republic of China, Hong Kong, Taiwan, Singapore, Malaysia. Through key acquisitions, joint ventures, and prestigious international and domestic alliances, the Company has facilitated the delivery of unparalleled products and services in two high growth areas: (1) the Internet and (2) e-mail and advanced messaging services.
CATHAYONLINE INC.
On Behalf of the Board of Directors
Brian Ransom, Director
More information can be obtained about CathayOnline by visiting cathayonline.com
For further information contact Barbara Manui of: HOWARD BRONSON & ASSOCIATES at 212/867-6160.
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67. Forward-looking statements may be identified by words including "anticipate", "believe," "intends," "estimates," "expect," and similar expressions. The Company cautions readers that forward-looking statements, including without limitation, those relating to the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
CONTACT: Howard Bronson & Associates
Barbara Manui, 212/867-6160 |
