VANCOUVER, British Columbia, Sept. 16, 2004 (PRIMEZONE) -- VoIPMDU.COM (Pink Sheets:VPMD) today announced that it has engaged the services of Ascot Investments Inc. for a spectrum of its investment banking requirements, providing the Company with valuable access to Ascot's considerable expertise in capital formation as well as merger and acquisition strategies.
Under the terms of this signed agreement, Ascot Investments is to serve as the structuring agent for a total of $5,000,000 USD in the form of debt and equity or any combination thereof. The first tranche of $500,000 USD is currently being processed. Ascot will also play a major role in any new joint venture activities on behalf of VoIPMDU.COM in its bid to assemble a comprehensive product suite in the rapidly growing VoIP technology sector.
Michael Osborn, CEO of Ascot Investments commented, "We appreciate the opportunity to bring our industry expertise to VoIPMDU.COM and to play a major role in its continued growth in the rapidly expanding VoIP technology market. The Company has focused on a clear path of objectives and we look forward to assisting them in reaching their goals."
Richard Kipping, Chairman and CEO of VoIPMDU.COM stated, "We are very pleased to announce this relationship with Ascot Investments. With their skill sets at our disposal, we're more confident than ever that we will become a recognized leader in the VoIP industry. We've spent almost two years developing our VoIP product suites, software technology and billing platforms. Now we will have the resources to go forward and build out several of our key projects such as our newly-signed strategic distributor agreement with UnityVoice Inc. to market some very unique and comprehensive VoIP telephone bundles (See Press Release September 15th, 2004), as well as our proposal with a venture partner to provide VoIP telephony services to 400,000 Vietnamese Americans in the greater Los Angeles area. (See Press Release June 7th, 2004) Structuring the $5,000,000 provides us with the necessary capital to implement our business plan and to accrete additional revenue streams to our bottom line."
VoIPMDU.COM is a broadband VoIP telecom company offering local and long distance VoIP services and video-on-demand to consumers, business owners and multiple dwelling unit buildings with its joint venture partner, INSINC (www.insinc.com). The two companies provide turnkey solutions for all of its voice/video/data applications including a state-of-the-art billing platform. For more information, contact Richard Kipping at 604-723-8750 or email at info@voipmdu.com.
Ascot Investments has established an outstanding reputation for responding to dynamic market and economic environments with creative investment banking services and innovative financing strategies. Its team of corporate finance professionals has completed over $1 Billion USD in transaction values over the past twenty years. Ascot assists clients in evaluating, designing and implementing the most appropriate courses of action and continually monitors its clients' progress. The results are well-planned growth strategies for a wide variety of corporate entities, a reliable information flow to the investment communities and continued investor interest. (www.ascotinc.com)
Safe Harbor:
Certain statements contained herein are "Forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995.) Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.