TEMECULA, Calif, Nov. 23, 2004 (PRIMEZONE) -- CLX Investment Company, Inc. (OTCBB:CLXN), today announced that the Company has received the first round of financing as part of the previously announced commitment of up to $5 million and expects to use part of the capital raised to begin assembling a portfolio of revenue-generating companies.
The Company recently identified its first investment, a 40% interest in Austin, Texas-based eStrategy Solutions, a four-year old e-learning and cost recovery solution provider with projected net revenues of approximately $3 million in 2005.
eStrategy Solutions is poised to expand the sales of its online training solutions for government entities and other professional organizations, first in the state of Texas, where eStrategy already provides over a dozen state departments with compliance courses, and later to other state agencies and private sector customers.
"We expect to have the initial agreement finalized and move forward to provide the resources and support necessary to maximize the potential of our investment in eStrategy Solutions. The receipt of funds from our financing commitment will allow us to continue executing our business strategy and add additional value to our investment portfolio," commented Shane H. Traveller, Chief Executive Officer of the Company.
About the Company
CLX Investment Company elected to be regulated as a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940 on September 13, 2004. The Company's first investment is expected to be a 40% interest in Austin, Texas-based eStrategy Solutions, a four-year old e-learning and cost recovery solution provider, and CLX plans to acquire and invest in other companies that have sustainable cash flow, significant operating history, management experience and commitment, and are well positioned for future growth.
All statements included in this release, including statements regarding potential future plans and objectives of CLX Energy are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Energy's control. 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. Actual results may differ materially depending on many factors. CLX Energy cautions that historical results are not necessarily indicative of the future performance.