[August 20, 2007] 3P Networks, Inc. Closes on $12M Funding Tweet NEW YORK --(Business Wire)-- 3P Networks Inc. (the "Company") (Pink Sheets:TPNW) one of the fastest growing providers of integrated telecommunications services, announces that it has closed on an underwriting for a $12 million, five-year term, convertible debenture financing. The financing will enable the Company to proceed with a number of strategic acquisitions in the Caribbean region and will position the Company to issue dividends within two years upon the strength of recurring revenues from its expanding subscriber base. Dr. John Tydeman, 3P Networks Inc. Chairman stated, "We are very pleased to have secured this financing that will now enable us to accelerate our announced strategic acquisitions and roll out of our integrated IP network throughout the Caribbean. These proceeds provide 3P Networks with sufficient capital to accelerate the company's business plan; properly assess 'next step' acquisition opportunities in North America; and to prepare the company for listing on the NASDAQ Small Cap and the London AIM Exchange." The Company is providing high-quality disclosures on corporate developments to market participants, via its website http://www.3pnetworks.com and via the Pinksheet quotation mechanism. About Quote Platform Syndicate Inc. Quote Platform Syndicate is a syndicate of brokerages, investors, and institutional financiers domiciled in Europe and Asia. Their niche market is the placement and trading of high yield instrument in the world's emerging markets. About 3P Networks 3P Networks Inc. is a diversified, multi-service telecommunications company with interests in North America and the Caribbean. The Company is focused on aggregating subscribers, which provides the company with monthly recurring revenue on a single platform. 3P Networks provides custom bundling of emerging digital telecommunications "triple play" products, such as HD-TV; fixed and mobile wireless VoIP; and Broadband Internet connectivity, delivered to its subscribers in both underserved rural areas and urban high demand markets - all on a common platform. Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of 3P Networks Inc. ("the Company"), or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its plan of operations when needed; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors. [ Back To TMCnet.com's Homepage ]