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Air Packaging Technologies Inc. Announces $2.5 Million Financing to be provided by European Advisory Group, Givigest Fiduciaria SA
"The financing to be provided by Givigest provides our Company with sufficient cash resources to achieve our principal goal of maximizing shareholder value through increased sales and profitability," says CEO, Donald M. Ochacher
Valencia, California, USA – September 20, 2000 – Air Packaging Technologies Inc. (OTCBB: AIRP), award-winning high tech innovator in patented inflatable packaging, today announced that it has received $2.5 million in new financing from its Investment Banker, Givigest Fiduciaria SA, of which $1.25 million is on a firm commitment basis and $1.25 million is on a best efforts basis.
On April 12, 2000 the Company first announced a worldwide investment banking agreement with Givigest Fiduciaria SA, a Swiss Investment Banking firm with more than ten years experience in advising and funding US and European publicly-listed entities.
Increased global interest in the Company's products, in particular AIRP's recent agreement with a Fortune 500 Company, points to dramatic increases in sales potential and the capital provided by Givigest will enable the Company to meet this anticipated demand for its products.
Commenting on the new commitment, the exact terms of which have not been disclosed, President and CEO of Air Packaging Technologies Inc., Donald M. Ochacher said: "I am very pleased to now be in the position to focus on sales and production without concern about funding for the foreseeable future. Givigest Fiduciaria SA, is a highly respected company in the financial services industry and was instrumental last Fall in raising $1.5 million for the Company. We now have sufficient capital resources to plan intelligently to meet our commitments and to continue to deliver products of the highest quality.”
Air Packaging Technologies Inc. is an award-winning developer and manufacturer of inflatable protective and promotional packaging. Its goal is to position the Company’s patented products as 21st century alternatives to conventional packaging such as bubble wrap, foam and polystyrene peanuts.
Recent clients of Air Packaging Technolgies Inc. include Motorola, Redken, Photronics, Dolce & Gabbana, Breitling, Chivas Regal, Nordstrom’s, Skin Market, Ha-Lo Industries and MTV Networks. Air Packaging Technologies Inc. has been recognized by the World Packaging Organization, Ameristar, Westpack, the Flexible Packaging Association and Packaging Magazine in categories covering commercial and industrial, shipping, process, electronics, innovative design and environmentally responsive packaging.
Further information on the Air Packaging Technologies Inc., as well as visual demonstrations and technical specifications of its packaging solutions are available online at www.airbox.com, or directly from the Company, as listed below.
The foregoing information contains certain forward-looking statements that anticipate future trends or events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks including but not limited to the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry and other risks detailed in the Company's Securities and Exchange Commission filings. Accordingly, actual results may differ, possibly materially, from the predictions contained herein.
Contacts: Donald M. Ochacher Air Packaging Technologies, Inc. 25620 Rye Canyon Road Valencia, CA 91355 Telephone: (661) 22/ (800) 69 Fax: (661) 47
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