03/11 9:07A (DJ) PRESS RELEASE: Beacon Solutions Completes Ancillary Offering
Story 4083 (BEAC, N/DJIN, N/DJN, N/DJWB, N/CNW, N/DJPN, N/DJWI, N/PRL...)
Beacon Solutions Completes Ancillary Offering
LOUISVILLE, Ky., CINCINNATI and COLUMBUS, Ohio, March 11, 2008 (PRIME
NEWSWIRE) -- Beacon Enterprise Solutions Group, Inc. (OTCBB:BEAC) today
announced that the Company recently completed an additional $772,800 private
placement of Preferred Stock and Warrants to accredited investors. The private
placement consisted of 7.728 Units sold at a purchase price of $100,000 per
Unit, with each Unit comprised of 100 Series "A-1" Preferred Shares and a five
year warrant to purchase 66,667 Common Shares at a purchase price of $1.00 per
share.
The Company's $4 million Series "A" private offering, which closed on
February 12, 2008, was oversubscribed. As a result, a number of otherwise
qualified investors were unable to participate in the Series "A" private
offering. The Company intends to use the proceeds of the Series "A-1" private
offering for additional working capital.
About Beacon Enterprise Solutions Group:
Beacon was formed by the consolidation of four independently successful
companies in the IT and Telecom service sectors. Today, Beacon is a unified,
single-source provider of technology and telecommunications services, from
software development and infrastructure design to interconnect voice/data,
security and systems integration. Beacon's client roster includes over 4,000
companies, from small and medium-sized business enterprises (SME market) to
Fortune 500 firms, along with state and local government agencies and
educational institutions. The Company's business strategy currently centers on
a three phase development plan (regional in Phase I, super-regional in Phase
II and national in Phase III) driven by a combination of organic and
acquisition growth. Headquartered in Louisville, Kentucky, Beacon maintains
offices in Cincinnati, Ohio; Columbus, Ohio; Mangalore, India and services
clients globally. For more information please visit www.askbeacon.com or
contact the Company at 502-379-4788 or investors@askbeacon.com.
This press release may contain "forward-looking statements."
Expressions of
future goals and similar expressions reflecting something other than
historical fact are intended to identify forward-looking statements, but are
not the exclusive means of identifying such statements. In some cases, you can
identify forward-looking statements by terminology such as "may", "will","should", "could", "expects", "plans", "intends", "anticipates", "believes","estimates", "predicts", "potential", "continue" or the negative of such terms
and other comparable terminology. These forward-looking statements include,
without limitation, statements about our market opportunity, our strategies,
competition, expected activities and expenditures as we pursue our business
plan. Although we believe that the expectations reflected in any
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements. Actual results may differ
materially from the predictions discussed in these forward-looking statements.
Changes in the circumstances upon which we base our predictions and/or
forward-looking statements could materially affect our actual results. Factors
that could cause or contribute to such differences include, but are not
limited to, market acceptance of products and technologies, competitive
factors, the Company's ability to continue to secure sources of financing, the
Company's ability to identify, acquire and integrate suitable target companies
and other factors described in the Company's filings with the Securities and
Exchange Commission. The Company undertakes no obligations to revise or update
any forward-looking statements in order to reflect events or circumstances
that may arise after the date of this press release.
CONTACT: Beacon Enterprise Solutions Group, Inc.
Paige Reh
502-379-4788
paige.reh@askbeacon.com
(END) Dow Jones Newswires
03-11-08 0907ET
Additional Codes ( N/TPCT, M/NND, M/TPX, R/NME, R/US, R/USW, R/UT)
F. Ryan Smith
Laidlaw & Company (UK) Ltd.
90 Park Avenue - 31st Floor
New York , NY 10016
(212)-697-5200 (tel.)
(212)-297-0670 (fax)
frsmith@laidlawltd.com
