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.