Intelligentias Announces Closing of $3.0 Million Financing With Vision Opportunity Master Fund to Complete the Acquisition of Da
June 14 2007 - 2:03PM
PR Newswire (US)
SAN FRANCISCO, June 14 /PRNewswire-FirstCall/ -- Intelligentias,
Inc. (OTC:ITLI) (BULLETIN BOARD: ITLI) , a leader in the homeland
security industry providing data retention, tracking and
investigatory services for telecommunications companies, Internet
service providers and law enforcement agencies around the world,
announced today that it closed a $3.0 million financing with Vision
Opportunity Master Fund, Ltd. Under the terms of the financing,
Intelligentias issued to Vision a $3.0 million senior secured
promissory note maturing on the earlier of June 13, 2008 or, upon
receipt of $6.0 million in net proceeds from its next financing,
with interest payable at 12% per annum. The note is not
convertible. Intelligentias also issued to Vision a warrant to
purchase up to 5,500,000 shares of common stock, exercisable at
$2.05 per share, expiring on June 13, 2014. The warrant contains
anti-dilution and "piggyback" registration rights provisions. The
proceeds of the financing are being used by Intelligentias to
complete the acquisition of Datakom GmbH, a lawful interception and
network monitoring company based in Germany. Ian Rice, CEO of
Intelligentias, commented: "We are delighted to have Vision work
with us again on this short-term financing." The financing was
completed through a private placement to one institutional
accredited investor and is exempt from registration pursuant to
Section 4(2) of the Securities Act of 1933, as amended.
Intelligentias did not use a placement agent in this financing.
Intelligentias' current report on Form 8-K related to the financing
contains more information regarding the terms of the financing.
About Intelligentias (http://www.intelligentias.com/)
Intelligentias, Inc. is a global data-intelligence conglomerate.
Using a worldwide network, we market homeland security products to
law enforcement agencies, telcos and ISPs in order to prevent
terrorism, cyber-crime and child exploitation. Our portfolio
company, Retentia, Inc. (http://www.retentia.com/), sells data
retention, tracking and forensics software to some of the largest
organizations in the world. Our portfolio company, Investigatia,
Inc., which will be launched later in 2007, will be our data
investigation company. Investigatia intends to focus on fraud,
identity theft, identity authentication and verification. Our
portfolio company, Interceptia, Inc., which will be launched later
in 2007, will be our lawful intercept company. Interceptia intends
to focus on legal interception of telecommunications by law
enforcement authorities and intelligence services. Forward-Looking
Statement This press release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All forward-looking statements are inherently uncertain as
they are based on current expectations and assumptions concerning
future events or future performance of the company. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which are only predictions and speak only as of the
date hereof. In evaluating such statements, prospective investors
should review carefully various risks and uncertainties identified
in this release and matters set in the company's SEC filings. These
risks and uncertainties could cause the company's actual results to
differ materially from those indicated in the forward-looking
statements. The securities sold in the financing have not yet been
registered under the Securities Act of 1933, as amended, and may
not be offered or sold in the United States in the absence of an
effective registration statement or exemption from registration
requirements. 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 in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state. Contact:
Pilot Financial Communications Network Rick Gean, 480-247-2142
(Investor Relations) DATASOURCE: Intelligentias, Inc. CONTACT:
Investors, Rick Gean of Pilot Financial Communications Network,
+1-480-247-2142, , for Intelligentias, Inc. Web site:
http://www.intelligentias.com/ http://www.retentia.com/
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