ATLANTA, Dec. 22 /PRNewswire-FirstCall/ -- Hansen Gray & Company, Inc.
(OTC: HGCP) today announced it has received the final $1.5 million of a
previously announced $2.5 million bridge round. The initial $1 million was
received on December 8, 2004. The financing consists of interest bearing
notes that convert to equity upon the closing of a minimum of $10 million in
equity financing. The Company has not closed on the equity financing and
there are certain other conditions precedent to the conversion of the bridge
notes into equity.
Mark E. Gray, CEO of Hansen Gray & Company commented, "This financing
represents increasing investor confidence in and our continued commitment to
iCurie's revolutionary technology. The funds are scheduled for use to further
the development and commercialization of the Company's nanotechnology-based
cooling system for PCs and notebook computers."
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Hansen Gray & Company
Hansen Gray & Company, Inc. (OTC: HGCP) is a publicly-traded venture
capital firm based in Atlanta, Georgia. The firm's management has substantial
experience in all areas of investment banking, specializing in mergers and
acquisitions, with an emphasis on emerging technologies including
nanotechnology. The firm is an investor in iCurie Lab Holdings, Ltd., which
has developed The iCurie Cooled(TM) Micro Cooling System (ICMCS), a patented
nanotechnology cooling system for microchips, to address a significant
challenge to ever-increasing computer processing speeds -- heat. Additional
information on the firm is available at http://www.hansengray.com or by
calling (678) 542-2000.
This press release contains forward-looking statements, involving risks
and uncertainties including any statements regarding the Company's future debt
or equity financings. Such statements are based on management's current
expectations and are subject to certain factors, risks and uncertainties that
may cause actual results, events and performance to differ materially from
those referred to or implied by such statements. In addition, actual future
results may differ materially from those anticipated, depending on a variety
of factors which include, but are not limited to, our ability to attract
investors, our future operating results, the ability to reach mutually
agreeable financing terms, the ability to meet all closing conditions to
complete the bridge financing and general economic conditions affecting
consumer spending, including uncertainties relating to global political
conditions, such as terrorism and the conflict with Iraq. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company does not intend to update
any of the forward-looking statements after the date of this release to
conform these statements to actual results or to changes in its expectations,
except as may be required by law.
SOURCE Hansen Gray & Company, Inc.