Check out FDIR: (last 2 releases)
Business Wire - February 22, 1999 16:50
DENVER--(BUSINESS WIRE)--Feb. 22, 1999--Fronteer Financial Holdings, Ltd. (Fronteer) (OTC BB:
FDIR) announces its plan of transformation of several of its subsidiary businesses into an Internet and on-line
based operations business.
The first transformation is to be eBanker USA.com, Inc.
Fronteer Development Finance Inc. (Fronteer Development), a subsidiary of Fronteer, after a merger into a
Colorado corporation formed solely in order to facilitate Fronteer Development becoming a Colorado
corporation and to effectuate a name change, will be known as eBanker USA.com, Inc. (eBanker). During
1998, eBanker USA.com, Inc.'s predecessor raised approximately $10 million in a private placement of equity
and convertible debentures. To date, the proceeds have been primarily invested in high quality and high yield
corporate convertible bonds, and in extending loans to public reporting companies. The market value of the
convertible bonds currently exceeds carrying value, and loans to one public reporting company have resulted in
potential unrealized gains from warrants in excess of $15 million, based on last Friday's closing price of the
related stock.
eBanker plans to develop its on-line services, including debt financing for private and public companies in the
small-cap to mid-cap range. eBanker's debt financing may, without limitation, take the form of senior debt,
mezzanine debt, subordinated debt, and convertible debt, with or without collateral, in various types of lending
transactions.
In addition, eBanker plans to expand its lending strategies to operate as an on-line Internet service for
individuals with a high net worth, and for smaller publicly traded corporations. eBanker plans to divide its
financing services into four main categories consisting of credit cards, securities financing, liquidity facilities, and
real estate development finance.
Fronteer owns American Fronteer Financial Corporation (AFFC), a regional securities broker/dealer
headquartered in Denver with branches in Albany, Chicago, West Palm Beach, Atlanta, Reston, Virginia, New
Orleans, Dallas, Colorado Springs, New York, San Francisco and Las Vegas.
Fronteer is a Denver-based holding company with consolidated entities that include AFFC, Secutron Corp., a
computer hardware seller and software developer, and Fronteer Development, which will become eBanker
USA.com, Inc.
The statements included in this press release concerning predications of economic performance and
management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor
provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the
Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements.
AND
Business Wire - March 04, 1999 15:47
DENVER--(BUSINESS WIRE)--March 4, 1999--Fronteer Financial Holdings, Ltd. (Fronteer) (OTC BB:
FDIR) announces the enhancement of several of its subsidiary companies into Internet-based operations.
They include eBanker USA.com, Inc., an Internet-based high-yield lending operation, and eBroker
USA.Com, Inc., an on-line securities brokerage business.
Also, Fronteer is pleased to announce that J. Daniel Holden will join as an Executive Vice President and
member of the Board of Directors of American Fronteer Financial Corporation (AFFC), a broker/dealer
subsidiary of Fronteer. Mr. Holden will be responsible for developing the new international on-line brokerage
division, eBroker USA.Com, Inc. The division plans to provide Internet brokerage services, research, and
market data, to its domestic and international clients. Mr. Holden will soon be announcing an international
trading alliance with a major U.S. brokerage firm.
According to Mr. Holden, eBroker USA.Com, Inc. is expected to be operational in the on-line brokerage
business in 1999, subject to regulatory approval.
Apart from developing the on-line brokerage business for eBroker USA.Com, Inc., Mr. Holden will assist in
the development of AFFC's overall strategic plans, and enhancing AFFC's investment banking business.
Mr. Holden, an investment banker, has twenty-seven years of experience in taxable fixed income and equity
securities origination, research, sales, and trading management. Previously he served as Managing Director and
CEO of Core Pacific Securities USA, LLC., and was Director of Corporate Finance for Tradition North
America.
As former Vice President and Director of Private Placements for Kidder Peabody, Morgan Stanley Dean
Witter, Prudential Securities, and ABN AMRO, he built their sales and trading departments into multi-million
dollar profit centers. Mr. Holden has arranged significant financing for companies seeking investors in numerous
new issues and secondary private placements.
AFFC is a regional securities broker/dealer headquartered in Denver with branches in New York, Chicago,
San Francisco, Atlanta, Dallas, New Orleans, Reston, Virginia, Las Vegas, West Palm Beach, Colorado
Springs, and Albany.
Fronteer is a Denver-based holding company with consolidated entities that include AFFC, Secutron Corp., a
computer hardware seller and software developer, and eBanker USA.com, Inc., formerly known as Fronteer
Development Finance Inc., offering among other things, Internet-based high-yield lending opportunities.
The statements included in this press release concerning predictions of economic performance and
management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor
provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the
Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements.
CONTACT: Fronteer Financial Holdings, Ltd., Denver
Gary L. Cook, Secretary/Treasurer
303-860-1700
|
