UPGD - About to announce $70M in financing. Recently added to the Frankfurt exchange. Produce magnetic stripe on credit cards that hold 5 MB of information. Making big strides. Read these 2 most recent PRs.
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Upgrade Announces Agreement to List Shares on the Frankfurt Stock Exchange
Business Editors
BLAINE, Wash.--(BUSINESS WIRE)--Jan. 28, 1999--Upgrade
International Corp. (OTC BB:UPGD) is pleased to announce that it has
signed an agreement with Kling, Jelko, Dr. Dehmel
Wertpapierdienstleistungs AG to obtain a listing of its shares in the
Third Segment (Freiverkehr) of the Frankfurt Stock Exchange, in
Frankfurt Germany.
Bland, president of Upgrade International Corp., said "in light
of the significant interest amongst European investors in our
company, the listing in Frankfurt will facilitate the trading of the
company's shares in the European marketplace. Moreover, with Kling,
Jelko, Dr. Dehmel AG acting as sponsors for the listing, we are
confident that news, research and information to shareholders will
facilitate greater contact with our European investors on a daily
basis".
Kling, Jelko, Dr. Dehmel Wertpapierdienstleistungs AG offers
brokerage services of securities traded on the Frankfurt Stock
Exchange. The company brokers in all German traded shares and
options and represents various international companies as a broker of
securities on the Frankfurt Stock Exchange. Kling, Jelko, Dr.
Dehmel AG also provides assistance with mergers and acquisitions.
Upgrade International Corp., through its shareholding interest in
UltraCard Inc., is engaged in the development and commercialization
of a patented, revolutionary data storage technology. UltraCard
applies conventional hard drive storage technology onto the surface
of the standard credit card. The company has successfully
demonstrated the ability to store up to 5mb (five million bytes) of
data on a standard credit card. This provides a dramatic increase in
storage capacity compared to the existing industry standards.
Presently, magnetic stripe and integrated circuit chip (smart card)
technology respectively have 256 bytes and 2k (two thousand bytes) of
data storage capacity. Additionally, Upgrade is engaged in the
acquisition and development of related software applications which
will provide for synergistic distribution channels for the UltraCard
technology while also providing a diversified asset base.
On behalf of the Board of Directors
Malcolm P. Burke, Director
--30--KS/se*
CONTACT: Upgrade International Corp.
Byron Coulthard, 360/332-2508
KEYWORD: WASHINGTON
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
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Upgrade International Corp. Announcement: Global Cybersystems Proceeds with European IPO
BLAINE, WASH. (Nov. 9) BUSINESS WIRE -Nov. 9, 1998--Upgrade
International Corp. (OTC BB:UPGD)--Global Cybersystems SA announces it
has entered into an agreement to complete a financing for $US70
million, with European Venture Finance Ltd. (EVF).
Global Cybersystems SA is owned 50% by Upgrade International Corp. and
50% by Ultracard Inc.
Upgrade International Corp. is engaged in the development of a
patented leading edge technology which currently provides a 5mb data
storage capacity on a standard credit card format. (Upgrade currently
owns 20% of Ultracard which will ultimately increase to 50%). By
merging the technology of Ultracard Inc. with the complementary
software development capabilities of Global Cybersystems, Upgrade is
well positioned to capitalized on the fast growing "Smart Card" market.
The financing will be carried out in two phases. The first phase will
be in the form of a bridge financing of up to $US10 million which will
facilitate Upgrade completing its 50% acquisition of Ultracard Inc.
The agreement calls for this phase to close in 30 to 45 days.
The second phase will be in the form of an Initial Public Offering
(IPO) of up to $US60 million with the intention of listing the
company's shares on the Nouveau Marche during the second or third
quarter of 1999. The IPO will be syndicated by EVF, a European based
business development group, with syndicated access to over 2,000
European institutional investors in over 10 European countries.
Upgrade is pleased to announce that Dr. Brett Cormick will become the
Chief Financial Officer of Global Cybersystems SA and Upgrade
International Corp. Dr. Cormick, a Harvard trained financial engineer, who previously served as a Managing Director of Investment Finance within the ABN AMRO Group, holds professional and post graduate qualifications in Economics and Finance from the London School of Economics, Oxford University and INSEAD.
Dr. Cormick said, "The opportunity to secure an IPO for Global
Cybersystems on the French Nouveau Marche is a particularly interesting option for the company. This European financing is not merely a reflection of the US IPO market; it is a clear indication that European markets -- particularly emerging markets such as the Nouveau Marche -- are eager to compete with the USA in backing technology firms with high growth potential."
On behalf of the Board of Directors
(signed)
Malcolm P. Burke, Director
-0- AMP/se*
CONTACT: Upgrade International Corp.
Byron Coulthard, 360/332-2508
KEYWORD: WASHINGTON
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED BANKING MERGERS/ACQ
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