News

eStation outlines funding initiatives

January 30, 2002

TORONTO - With the present and future in mind, off-premise ABM supplier eStation Network Services Inc. (CDNX:YST) on Jan. 30 announced it had secured roughly $1.9 million (American) in private stock placements pending various approvals.

Under phase one of the plan, the company will place 33,333,333 shares in a deal that will raise about $630,000. Those funds will be used to roll out the remaining ATMs in its inventory. Regulatory and board approval are needed to complete phase one.

Phase two involves the placement of 66,666,666 eStation shares in order to raise about $1.27 million. These funds will be used to purchase ATM companies with networks in Canada. This placement is contingent on regulatory and board approval, plus a binding letter-of-intent to purchase an ATM company.