Compass Capital Group to invest up to $5 Million for 21st Century Technologies, Inc.
September 02, 2003 07:32:00 AM ET
LAS VEGAS--(BUSINESS WIRE)--Sept. 2, 2003-- "These funds will drive an aggressive acquisition campaign"
Arland D. Dunn, President and CEO of 21st Century Technologies, Inc. TFCT, today announced that it has agreed to an investment banking deal with the Wall Street based investment firm of Compass Capital Group, for up to a $5 million dollar financing commitment over the next twelve months. These funds will drive an aggressive acquisition campaign in which Compass Capital Group will play a key role as investment banker and advisor.
Mr. Dunn stated: "Compass Capital has played an integral role as an advisor with regards to the Company's conversion to a Business Development Company ("BDC"), and will now follow that with up to a $5 million dollar investment. Compass's investment commitment will begin immediately upon the completion of the conversion to a BDC. The Company expects the BDC conversion to be complete during September, 2003. The door to the capital we needed is now open to 21st Century Technologies, Inc. With this capital commitment we can achieve sales in excess of $30 million in our two main subsidiaries over the next twelve months."
The proceeds from the investment will be directed to our revenue driving subsidiaries:
-- Trident Technologies, Inc., maker of ProMag and SeaPatch high technology magnetic leak and rupture sealing devices;
-- Innovative Weaponry, Inc., maker of tritium-powered no-light and low-light open gun sights and Miniature Machine Corporation, maker of MMC precision-machined adjustable gun sights.
21st Century Technologies will soon be announcing an information statement and updates on Trident Technologies, Inc and Innovative Weaponry, Inc. to bring investors up to date on these subsidiaries.
About 21st Century Technologies, Inc.
21st Century's Trident Technologies, Inc., manufactures two versions of its magnet-powered sealing devices: ProMag, designed for land-based applications, and SeaPatch, designed for marine applications. Trident's powerful magnetic seal systems are becoming established in the marketplace. Among its users are some of the world's largest corporations, such as Exxon-Mobil XOM, CSX CSX, Conoco COP, Dow Chemical DOW and the Union Pacific Railroad SP.
Innovative Weaponry's P-T Night Sights are well known throughout military and law enforcement agencies, including major police departments such as LAPD. The MMC brand of precision adjustable gun sights manufactured by Miniature Machine Corporation are favorites of serious shooting enthusiasts and hobbyists.
About Compass Capital Group
Compass Capital Group is a private investment firm specializing in the Small-cap and Micro-cap markets. Compass Capital acts as an investor and advisor to assist their clients in facilitating strategic alliances, mergers and acquisitions, and access to capital.
More about Compass Capital Group can be found at www.compasscapitalgroup.com
Safe Harbor Statement
The statements made by 21st Century Technologies, Inc. (the Company) may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of the Company. Actual results could differ materially from those projected due to risks such as changes in interest rates, market competition, our ability to generate orders and various other business factors.
Contact Information:
21st Century Technologies, Inc., Las Vegas
Larry B. Bach, 702-248-1588
© 2003 BusinessWire
News 
Market Data 
Discover 
