OGPS - OGPS -Wednesday November 17, 11:09 am Eastern Time
Company Press Release
Omicron Technologies Completes $3.5 Million Financing
BELLINGHAM, Wash.--(BUSINESS WIRE)--Nov. 17, 1999--Omicron Technologies, Inc. (OTC BB:OGPS - news) is pleased to announce it has completed an equity private placement financing with an officer of the company for $3,500,000. The shares issued are restricted for one year and subject to SEC Rule 144.
The proceeds of this private placement will be used to further advance the development of Interactive Radio Corporation's patented satellite-based technology. This architecture developed by Radio Satellite Corporation provides a wide range of integrated broadcast features including navigation, e-commerce, e-mail, music, travel, security, autotrack and Mayday at a relatively low cost using existing satellites. The funds will also be used to market Omicron's Internet gaming software.
Omicron Technologies, Inc. is in the business of acquisition, research and development, and marketing of leading edge technologies and Internet-based business concepts. Through a combined strategy of focusing on specific marketing niches and speedy development of its proprietary technologies, Omicron expects to gain significant market penetration in these areas.
For further information, contact Investor Relations toll free at: Telephone: 877-903-2288 Web sites www.omicrontechnologies.com
www.radiosat.com
OMICRON TECHNOLOGIES, INC.
Barrett Sleeman, President
NOTE: Safe Harbor for Forward-Looking Statements -------------------------------------------------
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of prices, product demand, market compensation, risk inherent in the company's international operations, imprecision of reserve estimates and the company's ability to replace and expand reserves.
--------------------------------------------------------------------------------
Contact:
Omicron Technologies Inc.
Investor Relations
Toll Free: 877/903-2288
www.omicrontechnologies.com
www.radiosat.com
|
