Host America Completes Private Placement
26 Juli 2007 - 10:47PM
PR Newswire (US)
HAMDEN, Conn., July 26 /PRNewswire-FirstCall/ -- Host America
Corporation (OTC:CAFE.PK) today announced that the company has
completed an $850,000 private placement of one year 12% convertible
secured subordinated notes. The notes are secured by the trademark
rights and a patent pending with respect to the company's
EnerLume-EM(TM), a newly designed light controller. The proceeds
will be used in marketing the company's energy conservation product
and for general corporate working capital. These securities were
offered and sold without registration under the Securities Act of
1933 in reliance upon the exemption provided by Rule 506 of
Regulation D thereunder, and may not be offered or sold in the
United States in the absence of an effective registration statement
or exemption from the registration requirements under the
Securities Act. An appropriate legend was placed on the notes
issued. This release is neither an offer to sell nor a solicitation
of an offer to buy any of these securities. Cautions Concerning
Forward-Looking Statements All information in this news release
consists of forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The statements
contained in this release, which are not historical facts and that
relate to future plans or projected results of Host and its
subsidiaries, are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, These forward-looking statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those projected, anticipated or
implied. These risks and uncertainties can include the risks
associated with Host's entry into new commercial food and/or energy
markets that require the company to develop demand for its
products, its ability to access the capital markets, litigation,
regulatory investigations and many other risks described in Host's
Securities and Exchange Commission filings. The most significant of
these uncertainties are described in Host America's 2006 Annual
Report on Form 10-K all of which any reader of this release is
encouraged to study (including all amendments to those reports) and
exhibits to those reports, and include (but are not limited to) the
following: the costs, difficulties, and uncertainties related to
the implementation of the early stage energy management division,
organizational changes and the integration of acquired businesses;
the potential loss of one or more key customer or supplier
relationships or changes to the terms of those relationships;
difficulties and uncertainties related to transitions in senior
management; the results, consequences, effects or timing of any
inquiry or investigation by or settlement discussions with any
regulatory authority or any legal and administrative proceedings;
the impact of previously announced restatements; difficulties or
delays or increased costs in implementing Host America's overall
prospective business plan; and general economic and market
conditions. Host America undertakes no obligation to update or
revise any forward-looking statement. Readers of this release are
cautioned not to put undue reliance on forward-looking statements.
DATASOURCE: Host America Corporation CONTACT: Sam Ostrow,
+1-203-328-3018, , for Host America Corporation
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