ZANN Corp Announces Source of Funding
August 08 2005 - 2:14PM
Business Wire
ZANN Corp (OTCBB:ZNNC) announced today that the Company has chosen
a source for funding to provide $5,000,000 for the purpose of
increasing production capacity of its AutoFast(R) tools and rivet
magazines. According to Robert C. Simpson, Zann Corp CEO, "We have
found a source of capital that understands our need to grow the
business and create shareholder value over the long term. When
implemented, the funding will allow us to build the packaging
machines and other related components necessary to increase
production capacity and stay ahead of the purchase orders entering
our system. The interest in our semi-automatic riveting tools and
magazines is very high and the funding will help us meet the demand
for our products." Simpson continued, "The funding and expected
revenues will also help us get aggressive with the short sellers
whom we believe have plagued us for years." ABOUT ZANN CORP ZANN
Corp. has three primary business units; semi automatic riveting
systems, biotechnology and nutritional supplements. These are all
scalable technologies with the potential to supply a diverse range
of high quality, high value products and services for niche
markets. For additional information please visit the corporate
website at: www.zanncorp.com Certain statements in this news
release may contain forward-looking information within the meaning
of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under
the Securities Exchange Act of 1934 and are subject to the safe
harbor created by those rules. All statements, other than
statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and
objectives of the company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements.
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