Home > Boards > Free Zone > User's Groups > Struthers Inc.,

Monday April 16, 7:02 am Eastern Time

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
2desire Member Profile
Member Level 
Followed By 4
Posts 519
Boards Moderated 0
Alias Born 10/28/00
160x600 placeholder
2desire Member Level  Monday, 04/16/01 08:50:11 AM
Re: None
Post # of 582 
Monday April 16, 7:02 am Eastern Time
Press Release
Struthers, Inc. Concludes an Agreement for $10 Million Standby Equity Financing and Relocates Corporate Offices
CHARLESTON, S.C.--(BW HealthWire)--April 16, 2001--The Board of Directors Struthers Inc. (OTC BB:STRU - news) and its President, Mariano Raigo, are pleased to announce that they have concluded an agreement to provide the Company with up to $10 million of standby equity based financing from an institutional investor.

This arrangement allows Struthers, Inc., at its discretion, to receive funds in exchange for shares up to an aggregate of $10 million over the next twelve (12) months.

The drawdowns are subject to the filing of a registration statement with the Securities and Exchange Commission covering the resale of the shares. Pricing will be based upon the volume weighted average price of the Company's stock during the investment period. This standby equity financing will give the company flexibility to fund planned programs for the balance of this fiscal year and beyond. Under the agreement drawdowns will commence in the near future after the registration of the shares becomes effective.

Effective April 16th, 2001 The Corporate Office for Struthers will relocate to existing facilities in Waukon, Iowa. The move will allow the Company to be in close proximity to its other operating facilities in both Minnesota and South Dakota, maximizing efficiency and decreasing cost. The Company will maintain a sales office in SC.

The Company's new Corporate Office will be located at the following address.

Struthers, Inc. 605 Rossville Rd. Waukon, IA. 52172 563-568-4950 (Voice) 563-568-4951 (Fax)

For further information on Struthers, Inc., visit their web site at http://www.struthersinc.com

Certain statements in this press release may constitute ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on statements, each of which speak only as of the date made. All such forward-looking statements are only estimates of future results and actual results may differ materially from those anticipated or projected. The Company undertakes no obligation to update or revise any such forward-looking statements.


--------------------------------------------------------------------------------
Contact:

Struthers, Inc.
Ms. Frances Kotnik, 843/763-1755








Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences