21st Century Technologies Enters into Additional $2.5 Million Private Placement with Compass Capital Group, Brings Total to $7.5 Million
November 13, 2003 10:15:00 AM ET
Today, 21st Century Technologies, Inc. TFCT and Compass Capital Group of New York City have entered into a restricted stock purchase agreement for up to $ 2.5 million dollars in additional financing. "The agreement calls for Compass Capital to purchase 10,000,000 shares of restricted stock at a fixed price of $0.25 per share over the next 3 months. This is a 200% premium over our current market price. Compass Capital shall have no registration rights to these shares. This is a testament to Compass' long-term commitment to our company, and value in our stock. This agreement will add value for our shareholders," stated Arland D. Dunn, President and CEO of 21st Century Technologies.
Mark Lefkowitz, investment banker for the Compass Capital Group said, "This investment will bring our overall commitment to $7.5 million dollars. Compass Capital is making this investment to secure the capital necessary for 21st Century Technologies to make new acquisitions and ramp up production for ProMag and SeaPatch. In addition, Compass Capital will be appointing a board member to the 21st Century Technologies investment committee, to oversee the investment and to bring new acquisitions to the company. The premium Compass Capital is paying reflects the long-term value we see in the company, as 21st Century implements its business plan for 2004 and beyond."
21st Century is a business development company which currently operates three wholly-owned subsidiaries, Trident Technologies, Inc., Innovative Weaponry, Inc. and Miniature Machine Corporation. Trident manufactures ProMag and SeaPatch, rare-earth permanent magnet-powered leak and rupture sealing systems, especially effective in HAZMAT applications. 21st Century is seeking funding from the Department of Homeland Security to provide ProMag/SeaPatch to the nation's 31,000 fire departments. Trident and Miniature Machine manufacture low- and no-light gunsights and precision engineered and built adjustable gunsights, respectively. The company is acquiring Credit Card Financial Corporation, which will deal in the buying and selling of credit card consumer debt and will develop that business into a major profit center.
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 risks.
Contact Information: Equitilink, Inc.
Ron Garner, 877-788-1940
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