TMCnet News
Telatinos Secures $20 Million Equity Financing MIAMI --(Business Wire)-- Dec. 1, 2004 -- Telatinos Inc. (OTC: TLTA), a Latin American IP-based VoIP service provider, today announced that the Company has secured $20 million in private equity financing.The investors are purchasing Class B Preferred shares, which will include dividends, board seats and stock option features. Until the agreement is finalized in early 2005, Telatinos will receive a bridge loan. The Company plans to use the proceeds to support larger sales and support staff for marketing initiatives in Latin America. The Company recently launched a joint venture in Colombia. Telatinos is working with local ISPs InterplaNet Medellin (www.interpla.net.co/), GeoNet Ltda (www.geo.net.co) and Colomsat S.A (www.colomsat.net.co). About Telatinos Corp. Telatinos is a Latin American based telecom equipment and facilities provider offering full-featured, cost-effective, high-quality local, long distance and international telephone services -- including 911 and E911 -- to both businesses and private residences in Latin America. The Company's products include modular, open and highly focused access and core VoIP network products, supporting a wide variety of VoIP-based applications, including voice access, network peering and control, Class-5 long distance, prepaid calling card, rural telephony and hosted enterprise VoIP applications. Learn more about our Company at www.telatinos.com. Forward Looking Statement This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the VOIP industry and Latin America; in the geopolitical environment; overall information technology spending; the growth of the Internet; levels of capital spending on Internet-based systems and other risk factors. Telatinos results of operations are not necessarily indicative of Telatinos operating results for any future periods. |
