21st Century's Investment Bankers Place $250,000 As Part of $2.5 Million Private Placement; Compass Capital Continues To Meet Commitments
January 15, 2004 12:48:00 PM ET
Compass Capital Group, a New York-based private investment firm, has placed $250,000 as part of a $2.5 million commitment to 21st Century Technologies, Inc. TFCT. The purchase of 1,000,000 shares of TFCT at $0.25 per share is being placed at a significant premium to the current market price of the stock to a private hedge fund. The premium paid relates directly to the placement by Compass Capital of John C. Hopf to the board of directors of 21st Century to oversee the acquisitions to be made with these and other funds raised by Compass Capital. Arland D. Dunn, President and CEO of 21st Century, said, "To date, Compass Capital has raised over $5 million for 21st Century and continues to do an outstanding job for us, not only in the provision of capital, but also assisting 21st Century in acquisition candidates as well as general corporate guidance."
21st Century is a Business Development Company under the Investment Act of 1940. It owns as wholly-owned subsidiaries Trident Technologies, Inc., that manufactures ProMag and SeaPatch, magnet-powered high-tech leak and ruptures sealing systems, Innovative Weaponry, Inc. and Miniature Machine Corporation, manufacturers of low- and no-light gun sights and precision adjustable open sights, and the just-acquired Paramount MultiServices, Inc., a Texas-based marketing firm. Additional acquisitions are in various stages of negotiation and development.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.
Contact Information: Equitilink, Inc. Ron Garner, 877-788-1940
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