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(BSNS WIRE) Browsesafe.com Signs $10 Million Corporate Financing Agreeme
Browsesafe.com Signs $10 Million Corporate Financing Agreement With Groome
Capital Inc.
Business Editors
INDIANAPOLIS--(BUSINESS WIRE)--Oct. 12, 1999--Financing
agreement allows leader in family-safe Internet browsing to
accelerate marketing, sales and product development.
BrowseSafe.com, Inc. (OTC BB:PGPG-news), announced today that it
has signed an agreement with Groome Capital.com Inc., for a private
placement of $10 million. The placement will be done on a best
efforts basis. Groome Capital has also been retained as exclusive
agent and fiscal advisor. A fee of $20,000 has been paid as an
engagement fee for legal review and other due-diligence expenses.
The net proceeds of the financing will be used for marketing, name
branding, corporate infrastructure and staffing requirements that
will be needed to accommodate the company's growth.
"This agreement will enable BrowseSafe.com to aggressively market
our product and gain a significant share in the expanding family-safe
Internet browsing market. We are looking forward to our relationship
with Groome Capital and I believe they will be a significant asset to
our corporate development," says Mark Smith, President of
BrowseSafe.com .
About Groome Capital.com Inc.
Groome Capital.com Inc. is Canada's first full-service investment
dealer providing free proprietary online research and online
access to initial public offerings. Groome Capital.com Inc. is an
independently owned, research-driven firm, with seats on the
Toronto, Montreal and Alberta stock exchanges and are members of
the Investment Dealers Association of Canada and the Canadian
Investor Protection Fund.
About BrowseSafe
Based in Indianapolis, Indiana, BrowseSafe.com was founded in the
spring of 1998. The initial charter of the company was to develop
a product that offers parents freedom from worry about what their
children are exposed to on the Internet, while providing access
to all that is good on the Web. In order to accomplish this,
BrowseSafe.com physically reviews and categorizes every single
Web site, allowing parents to control the access to the content
they want for their children. The result of this ongoing effort
is PlanetGood, which comes with three levels of Internet browsing
for kids, teens and parents.
BrowseSafe.com does not believe in government censorship as they
feel that parents should be the ultimate decision-makers of the
kinds of information they and their family members should be able
to access on the Internet. BrowseSafe has also formed
partnerships with Microsoft (Nasdaq:MSFT - news) and Netscape,
which is owned by America Online (NYSE:AOL - news), to distribute
Internet Explorer and Netscape Navigator with PlanetGood. Along
with providing a customized Microsoft and Netscape browser,
PlanetGood has been re-tooled with a variety of new features -
most recently a Parental Preview system that allows parents to
preview sites that have not yet been reviewed, and then determine
if they would like to allow it for their child.
PlanetGood is sold, direct to schools and libraries or as an
additional service available from ISPs or directly from their web
site at browsesafe.com.
BrowseSafe, PlanetGood, PlanetWow, PlanetCool, and PlanetHome are
registered trademarks of BrowseSafe.com, Inc. All rights
reserved. All other trademarks are property of their respective
owners.
Certain information included in this communication (as well as
information included in oral statements made by BrowseSafe.com)
contains statements that are forward looking, such as statements
relating to further anticipated direction of Internet industry,
plans for further expansion, various business development
activities, planned capital expenditures, funding resources,
anticipated sales growth and potential contracts. These
forward-looking 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--ys/at*
CONTACT: Text 100,
Peter Alfrey, (617) 723-1044 ext.210,
petera@text100.com
Investor Relations: (877) 366-7233
KEYWORD: INDIANA
INDUSTRY KEYWORD: BANKING
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