ADI Friday's News release...
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ADI TECHNOLOGIES, INC. ("ADH-V;ADIKF-L") - General Corporate Update
Jean Monroe, Chairman & CEO of Audio DigitalImaging, Inc., a wholly owned subsidiary of ADI Technologies, Inc. (jointly the "Company") reports that they are actively discussing with several sources to raise funds to be used to bring the Apogee D-2 to market as well as substantially complete initial development of the Apogee encoder. During the period of April 1, 1993 to February 4, 2000, Guardian Financial Corp., through open market purchases acquired 58,500 shares of the Company. From time to time, Guardian will purchase shares from the open market.
As an interim solution until major financing is established, the Company has reached an agreement in principal, subject to regulatory approval, for a private placement of 188,175 units of the Company at a price of US $0.35 per unit. Each unit shall consist of one common share and one non-transferable share purchase warrant, each warrant entitling the holder to acquire one (1) additional common share of the Company for a period of one year at a price of US $0.35 per share. TEL: (847) 439-1335 Investor Relations,
Audio DigitalImaging, Inc. E-mail: sads@adi.net |
