Correction -- Ugomedia Interactive Secures Financing Package of up to $3.125 million
Thursday December 18, 8:00 am ET
BAY CITY, Mich. and TORONTO, Dec. 18, 2003 (PRIMEZONE) -- Ugomedia Interactive Corp. (name change to Sciax Corporation pending) (OTC BB:UGMIE.OB - News) is pleased to announce the execution of an agreement with Sapos Investments Inc. for equity based financing of up to an aggregate of $3,125,000 against private issuance of common stock over the next 12 months as per the Company's financing needs and schedule. Shares will be issued without registration thus being restricted securities as defined by the Federal Securities laws.
Ken Smart, President of the company stated ``This is significant news to the company and its shareholders; it will enable us to step up our marketing and sales efforts and enable us to significantly increase our business.''
Nitin Amersey, Chairman and CEO stated, ``This financing essentially helps us cover our financial needs for the coming year and enables us to move forward with our business.''
