LAS VEGAS, Dec. 22, 2003 (PRIMEZONE) -- World Wide Web, Inc (OTCBB:WWWI) announces that it has retained Santa Fe Capital, a leading venture capital firm specializing in the financing of publicly traded micro cap companies, to raise up to $10,000,000 in a private offering.
The funding is to be in the form of Cumulative Convertible Preferred Share bearing a Coupon Rate of Seven and One Half Per Cent (7 1/2 %), Par Value of One (1) Dollar and a Conversion Price One Dollar and fifty Cents ($1.50) per share.
Proceeds of the offering will be used to purchase commercial and residential properties in the Las Vegas/Southern Nevada area. Real estate property values have begun to escalate, having appreciated on average over 17% in the last year alone.
Over the past year, Nevada has gained an average of 6,141 people every month, making it the fastest-growing state in the country for the 17th year in a row, according to numbers released Thursday by the U.S. Census Bureau.
The unrivaled growth rate in the Silver State over the past two decades -- the population has more than doubled since 1987 -- is felt especially in Clark County, home to about 70 percent of the state's 2.2 million people.
World Wide Web, Inc. will acquire real estate to add expertise and to add value for shareholders.
Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. 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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