BW0221 JUN 14,1999 5:57 PACIFIC 08:57 EASTERN
( BW)(FL-ERA-WEST)(ERAW) ERA West Inc. Announces $2.2 Million Financing Agreement
Business Editors
OCALA, Fla.--(BUSINESS WIRE)--June 14, 1999--ERA West Inc. (OTC BB: ERAW) a provider of Internet access, web design, web development and Voice over Internet Protocol (VoIP), through its various holdings, today announced a $2.2 Million round of debt financing from Trafalgar Resources LLC.
The funding will be used for working capital purposes and to make tactical investments into ERA West's existing lines of business.
"This financing is a major milestone for ERA West," said Frank Speight, President & CEO. "Having Trafalgar Resources support us is a clear validation of our business model and gives us the capital to develop our VoIP initiatives and support the company's growth by capitalizing both Dynamic Bells NetWorld (http://www.dbnw.com.au) in Australia, and City-Online (http://www.city-online.com) here in the States."
Trafalgar Resources was formed in 1996 with the purpose of investing into publicly traded companies. Trafalgar believes there is a unique opportunity to invest in companies which are listed on the NASDAQ Over-the-Counter Bulletin Board (OTC BB). With recent changes in how OTC BB companies may raise capital, Trafalgar have formulated various debt, equity, and hybrid funding instruments to meet the needs of its clients.
ERA West, through its wholly owned subsidiary Dynamic Bell's NetWorld (http://www.dbnw.com.au) an Australian company, offers Internet access, Voice over Internet Protocols, web publishing and web hosting. The company has strategic partnerships with World Access Communications Corporation and United African Telecommunications to provide VoIP technologies to various global markets including Australia, New Zealand, the Pacific Rim, and select West-African countries. The recent acquisition of USA-based ISP, City-Online, Inc. (http://www.city-online.com) continues to reinforce the company's goal to be a global Internet company.
Safe Harbor Statement: Certain information included in this communication contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These forward statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
--30--ah/ny* tia
CONTACT: ERA West, Ocala
Investor Relations:
Tim Ellis, 352/690-1633
timellis@city-online.com
erawest.com
KEYWORD: FLORIDA INTERNATIONAL AFRICA/MIDDLE EAST ASIA PACIFIC
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET TELECOMMUNICATIONS |
