Preventia Signs for $10M in Equity Financing from Magna Group
NEW YORK--(BUSINESS WIRE)-- Preventia, Inc.(OTCBB:PVTA) announces that Magna Group will provide for an equity financing arrangement of up to $10,000,000 through its flagship Equity Enhancement Program. The financing allows, but does not require, Preventia to issue and sell a number of shares of common stock having an aggregate purchase price of up to $10,000,000 to Magna Group from time to time. The Equity Enhancement Program may be immediately drawn upon with SEC registration.
With access to this capital, Preventia will use the proceeds for a range of purposes but generally to strengthen and expand the Company's growing presence in the insurance product market, as previously announced. Preventia has completed extensive work on varying by-products emanating from the insurance sector, including life insurance policies, term and otherwise, and a variety of fixed return and open-return units.
Robert Stevens, Preventia's CEO, states, "This next step in our fast evolving program is intended to capitalize on our market position by various means. Preventia will use the above program to push to market both insurance products already in the clearing system. Hybrids will be tailored to meet various institutional clients' needs and to enhance their competitive edge. We can now offer solutions to the other illiquid asset problems faced by banks, hedge funds and the wider general market. Preventia expects and welcomes scrutiny as our growing line of insurance products is reviewed prior to coming to market. Preventia is ready to face any and all untradeable policies, or illiquid asset problems in the industry today."
Joshua Sason, CEO of Magna Group notes, "We approach our financial partnership with Preventia with great excitement and optimism. As the financial markets become more and more globally oriented and technologically dependent, we feel that Preventia's platform offers the utmost in transparency and efficiency and stands to benefit greatly from the rapidly evolving transactional marketplace."
About Preventia, Inc.
Preventia, Inc., a Nevada corporation, is headquartered in Toronto, Ontario, Canada. Preventia works with corporate clients through its subsidiary, Preventia Group Corp., to develop, market and distribute financial products for dematerialization and electronic trading, and offers a patented electronic trading platform with respect to the foregoing. Preventia will pursue interesting projects from time to time that appear to further enhance its corporate influence and establish itself in a primary position in various developing markets.
About Magna Group
Magna Group is a leading alternative investment firm that makes innovative structured investments and provides financial partnership to its portfolio companies, public and private worldwide. Magna has completed more than 600 successful transactions into over 150 public and private entities since inception in 2009. As a value added investor, Magna Group prioritizes relationships and works closely with portfolio companies to develop customized equity, debt and hybrid investment solutions. Please visit www.magnagroupcapital.com for more information.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the Company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.
Emerson Gerard Associates
Jerry Jennings, 561-881-7318
KEYWORDS: United States North America Canada New York
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