News:
OneSource Raises $750,000 in Equity Capital; Company Enters
Agreement
OneSource Raises $750,000 in Equity Capital; Company Enters Agreement with Blackwater Capital, LLC
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Dec. 14, 1999--OneSource Technologies, Inc., (Electronic Quotation System:OSTK) Tuesday announced it has entered into an agreement with Blackwater Capital, LLC ("Blackwater"), a Chicago based investment firm specializing in funding the capital needs of micro-cap startups and emerging companies, for the private placement of $750,000 in equity capital to be funded over the next several months.
OneSource will use this financing for working capital and funding of its inaugural sales and marketing program that features a two-tier sales effort designed to achieving greater penetration of OneSource's unique Flat-Rate Blanket Maintenance System(TM) into large regional and/or national banking and retail companies throughout the country.
The management team of Blackwater Capital Partners brings together a powerful combination of experienced professionals and investors. Collectively, they have over 100 years of capital markets and venture management experience successfully providing strategic and operational guidance to businesses as investors, directors, advisors, consultants and managers.
It is believed that Blackwater's active role in each company along with dedicated and entrepreneurial management is the cornerstone to a successful acquisition. Furthermore, the strategy is designed to establish an exit or sale strategy within each purchase contract with active representation.
Portfolio companies that Blackwater Capital Group have equity investments in include: Realink.com, an online appraisal and mortgage service company, Duraswitch (AMEX:DRA), a patented electronic switch based on magnetic technology, FutureOne (OTCBB: FUTO), a communication company, and White Castle-a food service company.
OneSource also announced on Tuesday the completion of its acquisition of NETExpress, Inc., ("NETExpress"), a Phoenix based network integration company, in an all-stock transaction.
NETExpress, brings significant technical competence and industry-certified Novell (NASDAQ: NOVL) and Microsoft (NASDAQ: MSFT) network engineers to OneSource.
OneSource is a leader in the general office and industry specific equipment maintenance and service industry and the inventor of the unique OneSource Flat-Rate Blanket Maintenance System(TM).
This innovative service program provides customers with a Single Source for all general office, computer and peripheral and industry specific equipment maintenance. This Customer Customized service approach delivers substantially higher equipment service quality and does so at costs significantly lower than traditionally required.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbors created by those sections.
These forward-looking statements include statements related to potential mergers and the effect of those mergers on the prospects of the company. Actual results may differ materially due to a number of risks, including the uncertainty of completion of the contemplated transactions. This press release provides general information and should not be construed as an offer to sell securities.
The material contained herein has been obtained from sources believed to be reliable, but is not complete and its accuracy cannot be guaranteed. This report is for informational purposes only and should not be construed as advice or meet the investment needs of any particular investor or designed to be the basis of any investment decisions.
Investor Relations:
OneSource Technologies, Inc.
7419 East Helm Drive
Scottsdale, AZ 85260
480/889-1177 Fax, 480/889-1166
www.onesourcetechnologies.com
OneSource Technologies and Flat-Rate Blanket Maintenance System are trademarks of OneSource Technologies, Inc. Some of the product names mentioned herein are for identification purposes and may be trademarks or registered trademarks of their respective companies. SOURCE: OneSource Technologies, Inc. |
