Hi, Richard, Here it is
Thursday January 30 1:21 PM EDT
ESSENTIAL RESOURCES Announces Closing of Private Placement Financing
ENGLEWOOD CLIFFS, N.J., Jan. 30 /PRNewswire/ -- Essential Resources Inc , announced today that it has successfully completed a private placement of its
securities in which it received $1,750, 000. Under the terms of its agreement, the Company sold convertible debentures totaling $1,750,000 which are due in
January 2000. The purchaser also received certain registration rights with respect to the shares issuable upon any conversion of the debentures.
Phillip Cook, Chairman stated that "we are very pleased with the completion of our financing, which places us in a strong position to proceed with a number of
acquisitions which the Company has been considering and for working capital. The financing also provides the Company with the opportunity to expand its current
international sales base."
The Company, through its subsidiaries, develops, markets and distributes a wide variety of health, beauty-aid, vitamin and nutritional supplement products in
Australia, New Zealand, Korea, Japan, Egypt, Qatar, the United Kingdom and the United States. The Company's products feature Royal Jelly, a health-enhancing
nutritional supplement utilized to relieve stress, treat digestive ailments, reduce insomnia and fatigue. The Company also recently began marketing products
containing Tea Tree Oil, an extract distilled from the Melaleuca alternifolia plant with antiseptic, antibacterial and antifungal properties. Royal Jelly and Tea Tree Oil
are used in numerous consumer products, including household, pharmaceutical, cosmetics and toiletries. The Company also holds a license to market numerous
products under the Lamaze brandname. SOURCE ESSENTIAL RESOURCES, INC. |
