LAS VEGAS, March 10, 2004 (PRIMEZONE) -- 21st Century Technologies, Inc. (OTCBB:TFCT) announced today that Wall Street based investment banking firm Compass Capital Group has completed its commitment to provide $5 million in capital funding to 21st Century Technologies, Inc. Arland Dunn President and CEO of 21st Century stated, "The completion of the $5 million commitment has allowed us to meet our current acquisition plan and also allows us to proceed with prospective mergers and acquisitions. Compass Capital's long-term commitment will continue beyond this and well into the future."
Joseph Fierro, Managing Partner of Compass Capital Group stated, "The $5 million in capital funding that we have provided to 21st Century and the additional private placement of restricted common stock is a testament to our confidence in managements ability to increase shareholder value. Management is doing an excellent job utilizing the funds that we have provided to position the firm to take advantage of the 30-40 million dollars in Federal Grants that have been slated for use by first responders."
21st Century manufactures ProMag and SeaPatch, high-technology permanent magnet powered leak and rupture sealing systems, which are particularly appropriate for handling HAZMAT leak/ruptures quickly and efficiently. They are currently in use by many of the nation's railroads, oil companies and chemical manufacturers, including the First Response teams that service those industries. 21st Century is seeking funding from the Department of Homeland Security to provide ProMags and SeaPatches to the nation's 31,000 fire departments and other First Responders.
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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.