MCLEAN, Va., July 31, 2002 (PRIMEZONE) -- KnowledgeMax, Inc. (OTCBB:KWMX) today announced that it had received financing of $800,000 from CrossHill Georgetown Capital, LP.
The agreement calls for a revolving credit loan for working capital for a period of six months or the closing of a private placement of additional equity capital of at least $5 million, whichever comes first.
CrossHill Georgetown Capital, LP, is a fund focused on mezzanine and short-term lending to private and public entities, specializing in the technology field.
"We are pleased to be working with CrossHill, with their proven track record of success," stated Jim Speros, President. "This interim financing will give our company the opportunity to continue its growth and turn up new customers."
About KnowledgeMax, Inc. (http://www.knowledgemax.com)
KnowledgeMax is based in McLean, Va., and trades on the OTC Bulletin Board as KWMX.OB. The company provides large organizations with eBusiness systems for purchasing knowledge and learning products and services. KnowledgeMax has developed a unique customizable "Knowledge Resource Center" which is a one-stop system for providing employees of Fortune 1000 companies with books, online courses, training videos, audio, and other knowledge and learning resources. Complementary premium services allow for the management and delivery of client-developed content and "information on demand." Some of its customers include IBM (NYSE:IBM), Accenture (NYSE:ACN), the International Society for Performance Improvement (ISPI) and the National Association of Manufacturers (NAM). KnowledgeMax also owns a minority interest in Canadian-based Chalk Media Corp.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
This document contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. For example, statements of expected synergies, growth and revenue opportunities, management and organizational structure are all forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products and services may not develop as expected; that development of these products and services may not proceed as planned; that Sideware and KnowledgeMax are unable to transition or obtain customers, successfully execute their integration strategies, or achieve planned synergies; other risks that are described from time to time in Sideware's Securities and Exchange Commission reports (including but not limited to the annual report on Form 10-K for the year ended December 31, 2001, and subsequently filed reports). If any of these risks or uncertainties materializes or any of these assumptions prove incorrect, Sideware's results could differ materially from Sideware's expectations in these statements. For further discussion of important risk factors that may materially affect management's estimates, Sideware's or KnowledgeMax's results, and the forward-looking statements herein, please see the risk factors contained in Sideware's SEC filings.