as a stockholder this looks pretty good to me:
(COMTEX) B: American Millennium Corporation, Inc. Announces Private P
B: American Millennium Corporation, Inc. Announces Private Placement
GOLDEN, Colo., Jun 9, 2000 (BUSINESS WIRE) -- American Millennium Corporation,
Inc., (OTC Bulletin Board: AMCI), announced today that it has entered into an
option agreement with six private investors.
Pursuant to the terms of the agreement, the investors will have rights to
purchase from the Company options and warrants up to an aggregate of 8,000,000
newly issued shares (constituting approximately 25% on a fully diluted basis) of
the Company's common stock, at prices ranging from $1.00 to $5.25 per share. If
the investors were to elect to exercise such rights in full, the total proceeds
to the Company under the agreement would be approximately $15,500,000 to
$23,500,000, depending upon exercise periods. The investors are not obligated to
purchase any shares from the Company.
The rights of the investors to acquire shares under the agreement will terminate
if the investors fail to pay the required option fees (which fees, if paid, will
be credited to the purchase price payable upon subsequent purchases of shares by
the investors) or make certain purchases of shares within time frames
established in the agreement. Under the agreement, in order to retain the right
to purchase the entire number of shares referred to above, the investors will be
required to invest approximately $7,000,000 within approximately thirteen
months. There is no assurance that all or any of the options will be purchased
under the agreement.
ABOUT THE COMPANY: AMCI is a provider of wireless and wire-line solutions for
tracking mobile assets and remote monitoring of fixed assets through a network
of Low-Earth-Orbit Satellites (LEOs), Geo-Stationary Satellites (GEOs), and
Local Area Networks (LANs). To date, the company has hundreds of satellite
communication systems in the field tracking, monitoring, and reporting data on
oil wells, natural gas compressors, rail cars, and trucks. In addition to
hardware sales, AMCI generates revenues from the airtime sales. AMCI is an
applications service provider (ASP,) providing data access, tracking, and
analysis packages for customers via the Internet. AMCI is actively considering
acquisitions or business combinations that would compliment the Company's core
business. No such acquisitions or business combinations have been closed and
there is no assurance the Company may complete any such acquisitions or business
combinations.
Statements about the Company's future expectations, including future revenues,
earnings and transactions, as well as all other statements in the press release
other than historical facts are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. The Company intends
that such forward-looking statements be subject to the safe harbors created
thereby. Since these statements involve risks and uncertainties and are subject
to change at any time, the Company's actual results and other corporate
developments could differ materially from that which has been anticipated in
such statements.
CONTACT: For American Millennium Corporation, Inc.
Charterbridge Financial Group, Inc.
Justin Quis Quis, 619/696-8000 ext. 108
jquisquis@charterbridge.net
or
www.charterbridge.net
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KEYWORD: COLORADO
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS
TELECOMMUNICATIONS
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