LAS VEGAS, March 2, 2004 (PRIMEZONE) -- 21st Century Technologies, Inc. (OTCBB:TFCT) announced today that Compass Capital Group, a New York-based private investment firm, has raised an additional $500,000 for 21st Century Technologies, Inc. in a private placement. The purchase of 2,000,000 restricted shares of common stock was placed at $0.25 per share, to a private hedge fund.
Arland Dunn, President and CEO of 21st Century stated, "To date Compass Capital has raised over $6 million for 21st Century, and they continue to raise capital for current and future acquisitions. The firm has numerous acquisitions in the pipeline as we continue to diversify our holdings. We are looking forward to putting these funds to use, and increasing shareholder value."
21st Century is a Business Development Company under the Investment Act of 1940. It owns as wholly-owned subsidiaries Trident Technologies, Inc., that manufactures ProMag and SeaPatch, magnet-powered high-tech leak and ruptures sealing systems, Innovative Weaponry, Inc. and Miniature Machine Corporation, manufacturers of low- and no-light gun sights and precision adjustable open sights, and the just-acquired Paramount MultiServices, Inc., a Texas-based marketing firm. Additional acquisitions are in various stages of negotiation and development.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.