Another release
Tim R
Monday October 9, 4:54 pm Eastern Time
Press Release
SOURCE: Datamarine International, Inc.
Datamarine International, Inc. Announces Private Placement of Common Shares
MOUNTLAKE TERRACE, Wash., Oct. 9 /PRNewswire/ -- Datamarine International, Inc. (OTC Bulletin Board: DMAR - news) has made a private placement equity offering whereby up to 4,387,500 $0.01 par value common shares will be offered for proceeds of up to $3,750,000.
The shares are restricted shares and have not been registered under the Securities Act of 1933, and may not be offered or sold in the United States absent a registration statement or an applicable exemption from registration requirements. All shares are offered by Datamarine International, Inc. and there are no selling shareholders. The proceeds of the offering will be used to retire existing debt and to provide working capital for general corporate purposes. The offering is expected to conclude on or before December 1, 2000.
Statements included in this press release which are not historical in nature are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and as such may involve risks and uncertainties. These forward-looking statements are only predictions and are not guarantees of future performance. There can be no assurance that the Company will sell all of the securities offered or raise the total estimated proceeds. All forward-looking statements included in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements. Other potential risks are those identified in the Company's SEC filings.
SOURCE: Datamarine International, Inc. |
