Tom & Lance:
MMIC started moving again today and seems poised for another run. Here's the news release:
MMIC.OB
0.330000
+0.090000
delayed 20 mins - disclaimer
Friday October 15, 11:46 am Eastern Time
Company Press Release
Multi-Media Industries Announces Funding
NEW YORK--(BUSINESS WIRE)--Oct. 15, 1999--Multi-Media Industries Corp. (OTCBB:MMIC - news) announced that it has received a letter of intent from Taurus International Investments Inc., Bradenton, Fla., that Taurus will finance the company to the extent of $5 million.
Taurus International Investments is a venture capital and corporate finance management company specializing in raising capital from European investors for medium-sized listed companies. Taurus has headquarters in Bradenton and more than 1,100 independent financial advisers based in Switzerland, Germany, Austria and Scandinavia. It has branch offices in New York and Washington, D.C.
Taurus was selected by INC. Magazine to be included in its 1998 list of fastest-growing companies in America and nominated to be listed in Dunn & Bradstreet/Entrepreneur Magazine's 1999 listing of the ''Hot One Hundred'' fastest-growing new small businesses in America.
In addition to working capital, these funds will be used for the acquisition of Internet and entertainment start-up companies.
Multi-Media Industries, a development-stage company, is the holding company for Auctionfun.com, Randall Entertainment and Century Records. Auctionfun.com is very close to launching its new Web site, the breakthrough innovative auction experience. Randall Entertainment owns a library of films, while Century Records holds a library of songs.
Earlier this week, Multi-Media Industries announced that it had entered into a letter of intent to acquire Hall of Fame Partners Inc. through an exchange of shares.
Hall of Fame Partners will build and operate the National Big Band and Jazz Hall of Fame Museum, which is intended to do for music what Cooperstown did for baseball.
This news release contains forward-looking statements relating to future events and their impact on future results. Actual results could differ materially from those projected in the forward-looking statements as a result of unforeseen risk factors.
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Contact:
Multi-Media Industries Corp., Montvale, N.J.
Samy Salem, 201/307-8758
or
Princeton Research, Las Vegas
Mike King, 888/689-8018
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