LAKO news......
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Tuesday February 15, 8:34 am Eastern Time
Company Press Release
Lakota Technologies Signs Letter of Intent for $6 Million from Investment Banking Firm
HOUSTON--(BUSINESS WIRE)--Feb. 15, 2000--Lakota Technologies, Inc. (OTC BB: LAKO) announced today that it has signed a letter of intent with N.I.R. Group to raise six million dollars through a second round financing.
``The letter of intent with the N.I.R. Group is a positive step forward for us. This financing should allow us to dramatically increase our marketing efforts and make significant infrastructure investments in both equipment and facilities - the kinds of investments necessary to capitalize on the growing demand for DSL service,' says Majed Jalali, CEO of Lakota Technologies. ``This letter of intent is the next step towards our goal of acquiring the funding we'll need to successfully carry out our business plan and comes right on the heels of our last funding effort that raised over one million dollars in a single week.'
N.I.R. Group is a financial services firm that provides investment banking, consulting and real estate services to public and private corporations. The N.I.R. Group's core services include asset management, investment banking and corporate finance, as well as providing advisory services in the areas of mergers, acquisitions and divestiture.
Lakota Technologies subsidiary, 2-Infinity.com, is a provider of digital bundled services over DSL to residential, commercial, multi-tenant and hospitality markets worldwide. 2-Infinity.com utilizes technology that allows high-speed networking, digital cable, phone service and Internet access to be delivered easily and inexpensively through twisted copper pair or (POTS). 2-Infinity.com recently became a provider of commercial voice, data and Internet services. The company now offers a true integrated suite of voice, data and Internet services on one single cable plant, through its acquisition of AirNexus 2-Infinity.com is one of the leading providers of 3Com's (NASDAQ: COMS - news) new NBX 100 and the Maisoft Office Messenger.
2-Infinity.com recently merged with AirNexus, Inc. of Houston, Texas. AirNexus is a leading provider of the 3Com NBX 100, CTI magazine's product of the year for 1999. The 3Com NBX 100 is a LAN Based PBX that operates on standard network or Ethernet cabling.
The statements made by Lakota Technologies (Lakota) may be forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. This information is not a recommendation to buy or sell securities Lakota. The statements and opinions presented are the views of Lakota and are subject to change. Merger Communications (Merger) is a financial media relations firm employed by Lakota. Merger and Lakota believe that all information in this release has been obtained from sources considered reliable, but cannot guarantee that the statements presented herein are accurate or complete. Lakota believes that its primary risk factors include, but are not limited to: the need for substantial financial requirements; the need to develop effective internal processes and systems; changes in the overall economy; changes in technology; the number and size of competitors in its markets; continued and future strategic alliances; changes in the law and regulatory policy; and the mix of product and services offered in Lakota's target markets. Merger Communications, its officers, directors and employees own 130,000 shares of company common stock. Merger's receives part of its compensation in stock and is entitled to a compensation of 355,000 shares over the course of the lifetime of its long-term media relations contract with Lakota. Merger typically has a long position in the securities of the companies in which it publishes information, and Merger may be buying or selling securities in the course of its regular business.
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Contact:
Merger Communications Inc.
David Drake, 713/572-2560 x100
Email: ddrake@mergerusa.com
or
Lakota Technologies Houston
Majed Jalali, 713/592-0371
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More Quotes and News: LAKOTA TECH (OTC BB:LAKO.OB - news)
Related News Categories: computers, internet, networking, publishing, telecom
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