News Release!!!!
IAS Communications, Inc. Announces Financing Agreement
Completed $5,000,000.00 U.S. Convertible Debenture
CHICAGO, July 23 /PRNewswire/ --IAS Communications, Inc. (OTC Bulletin Board: IASCA - news)
wishes to announce that a Financing Agreement has been completed with an Investment Banker to
purchase up to a total of $5,000,000.00 U.S. in aggregate principle amount of the Company's units.
Each unit consists of the Company's three year, 8% Convertible Redeemable Debentures in the principle
amount of $500,000.00 and a warrant to purchase 25,000 shares of the Company's class A common
shares at a price not exceeding $2.85 for every unit purchased.
The Company has received $500,000.00 from the exercise of one unit upon signing and will receive
additional funds in increments of $500,000.00 as required by IAS Communications, Inc. and pursuant to
the terms and conditions of the debenture.
These funds will be used to further develop the CTH Antenna for working capital and accounts payable.
The CTHA is a patented, compact, low profile, donut-shaped antenna, flush mounted on an application
at a fraction of the height of the monopole antennas used today. IAS Communications, Inc. has the
sublicense rights for the worldwide commercial rights to the CTHA pursuant to our agreement with
Integral Concepts and West Virginia University.
On Behalf of the Board of Directors
John G. Robertson |
