XFONE Inc. Completes $2.26 Million Equity Financing
06 Oktober 2005 - 9:23PM
PR Newswire (US)
LONDON, Oct. 6 /PRNewswire-FirstCall/ -- XFONE, Inc. (AMEX:XFN), an
international diversified communications services company,
announced today that it entered on September 29, 2005 into a $2.26
million equity financing based on certain terms and conditions to
sell to certain investors an aggregate of 902,798 shares of common
stock at a purchase price of $2.50 per share including, 225,699.50
warrants at $3.00 per share and 225,699.50 at $3.25 per share. The
completion of the equity financing is subject to the satisfaction
of certain conditions, including regulatory approval. "The equity
proceeds will be used to continue to build our operations, sales
and marketing presence of Xfone worldwide," stated Guy Nissenson,
President and Chief Executive Officer of Xfone. "With the added
support from our investors, we will continue to build our
capabilities and pave the way for strategic initiatives which
include the expansion of our business, and pursue for potential
strategic acquisitions. Additional investment by existing investors
is a clear indication of our investor's confidence in our
technology and business prospects." About XFONE, Inc. A
U.S.-domiciled corporation, XFONE, Inc. is an international voice
and data communications services provider with operations in the
United Kingdom, the United States and Israel that offers a wide
range of services, which include: local, long distance and
international telephone services; prepaid and postpaid calling
cards; cellular services; VoIP services; reselling opportunities;
and email and fax broadcasting services. The Company serves
customers across Europe, Australia, North America, South America,
Asia and Africa. This press release contains forward-looking
statements. The words or phrases "should," "would be," "will
allow," "intends to," "will likely result," "are expected to,"
"will continue," "is anticipated," "estimate," "project," or
similar expressions are intended to identify "forward-looking
statements." The Company's financial results reflected above should
not be construed by any means as representative of the current or
future value of its common stock. All information set forth in this
press release, except historical and factual information,
represents forward-looking statements. This includes all statements
about the company's plans, beliefs, estimates and expectations.
These statements are based on current estimates and projections,
which involve certain risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. These risks and uncertainties include
issues related to rapidly changing technology and evolving
standards in the industries in which the Company and its
subsidiaries operate; the ability to obtain sufficient funding to
continue operations, maintain adequate cash flow, profitably
exploit new business, and license and sign new agreements; the
unpredictable nature of consumer preferences; and other factors set
forth in the Company's most recently filed annual report and
registration statement. Readers are cautioned not to place undue
reliance on these forward-looking statements, which reflect
management's analysis only as of the date hereof. The Company
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof. Readers should carefully review the risks and
uncertainties described in other documents that the Company files
from time to time with the Securities and Exchange Commission. For
More Information, Please Contact: XFONE, Inc. Alon Mualem, Chief
Financial Officer, 011-972-39254446 or via email at DATASOURCE:
XFONE, Inc. CONTACT: Alon Mualem, Chief Financial Officer of XFONE,
Inc., 011-972-39254446, or Web site: http://www.xfone.com/
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