To: Jim Bishop who wrote (10273 ) 9/23/1999 3:02:00 PM From: Mr Metals Respond to of 150070
OMICRON TECHNOLOGIES, INC. September 23, 1999 NEWS RELEASE OMICRON TECHNOLOGIES COMPLETES TERMS OF $5 MILLION FINANCING Omicron Technologies' (OTC BB: OGPS) Chief Financial Officer, Sak Narwal, is pleased to announce that the company has finalized the terms of a $5 million financing with investment bankers Corporate Capital Management of Minnesota. The initial $1 Million will be financed by Corporate Capital themselves and forwarded to Omicron within the next several days. Corporate Capital have agreed to place the remaining $4 Million of this financing with their clients within the next few weeks. The proceeds of these financings will be used to complete and market Omicron's Internet gaming software, to expand Cyberweb Systems' operations to a larger facility and to further the development and marketing of Interactive Radio Corporation's prototype. "This financing provides Omicron with the necessary funds to take the company's Internet gaming division from the development stage to the revenue producing stage and to take Interactive Radio Corporation to the next level." said Sak Narwal, CFO. Omicron Technologies, Inc. is in the business of acquisition, research and development, and marketing of leading edge technologies and Internet-based business concepts. Through a combined strategy of focusing on specific marketing niches and speedy development of its proprietary technologies, Omicron expects to gain significant market penetration in these areas. For further information, contact us toll free at: Telephone : 877-903-2288 Web sites www.omicrontechnologies.com www.radiosat.com OMICRON TECHNOLOGIES, INC. Barrett Sleeman, President NOTE: Safe Harbor for Forward-Looking Statements Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company?s actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of prices, product demand, market compensation, risk inherent in the company?s international operations, imprecision of reserve estimates and the company?s ability to replace and expand reserves.