Compass Capital Group Secures Additional $1,000,000 In Funding for 21st Century Technologies
November 11, 2003 12:33:00 PM ET
Arland D. Dunn, President and CEO of 21st Century Technologies, Inc. TFCT today announced the completion of the third round of funding provided by the Company's investment bankers, Compass Capital Group of New York City. Mr. Dunn stated, "Since 21st Century entered into a close relationship with its investment bankers, Compass Capital, that firm has provided a total of $3,000,000 to 21st Century, including the latest $1,000,000 round of financing. These funds are invaluable to us, particularly since we became a Business Development Corporation. Not only will this money give us the means to continue to pursue grant funding for ProMag and Seapatch from the Department of Homeland Security and the need for production capacity in connection with that, but also will fuel several potential acquisitions which we are studying closely now."
Mark Lefkowitz, Compass Capital's investment banker to 21st Century, said, "We have accomplished over one-half of our $5,000,000 commitment to 21st Century. The Company's performance has by our standards been more than satisfactory. The balance of our commitment will be attained and put to good use by 21st Century's management. This is a great beginning for a long and mutually satisfactory relationship."
21st Century's wholly-owned subsidiary, Trident Technologies, Inc., manufactures ProMag and its marine-engineered brother, SeaPatch, both of which are rare-earth permanent magnet leak and rupture sealing devices, especially suitable for emergency HAZMAT applications. Other wholly-owned subsidiaries, Innovative Weaponry, Inc. and Miniature Machine Corporation manufacture low and no light gunsights, as well a highly precise adjustable gunsights for enthusiast and sportsman application.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.
Contact Information: Equitilink, Inc. Ron Garner, 877-788-1940
© 2003 BusinessWire
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