SunnComm Signs $10 Million in Institutional Financing
PHOENIX--(BUSINESS WIRE)--July 13, 2001--SunnComm Inc. (OTC:SUNX) President Peter H. Jacobs Friday announced the completion of an institutional funding arrangement that will provide up to $10 million to the company.
The initial stage of the funding has been completed with the institutional investment group, Bluefire Capital. Additional funds, in stages, will be available as certain terms and conditions are met by the company. Jacobs said, "We are very pleased to be working with Bluefire, and look forward to the opportunity to grow our markets and technology with the additional funds."
Simon McFadden, director of Bluefire said, "We are thrilled to be helping SunnComm and the management team achieve their stated business goals of protecting the digital rights of artists worldwide."
SunnComm Inc. is a leader in digital content security with its MediaCloQ(TM) suite of digital content security technology, and has commercially released the United States' first "cloaked" Audio CD -- Charley Pride's "A Tribute to Jim Reeves" which is available at retailers around the world.
The company develops proprietary (patents pending) software applications designed to protect digital intellectual property from unauthorized duplication.
SunX, Digital Content Cloaking technology, DC2, MediaCloQ and SunnComm are trademarks of SunnComm Inc. in the United States and/or other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Statements contained in this release which are not historical facts may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance.
Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.
CONTACT:
SunnComm Inc., Phoenix
William H. Whitmore Jr., 602/267-7500
bill@sunncomm.com
KEYWORD: ARIZONA
BW0017 JUL 13,2001
3:02 PACIFIC
6:02 EASTERN |
