PACEL Corp. Announces Repayment of Debt

CHARLOTTE, N.C., March 2  /PRNewswire-FirstCall/ -- PACEL Corp. (OTC:PCCE) (BULLETIN BOARD: PCCE)  -- PACEL Corp. announces that it has repaid approximately $2,000,000 in debentures. This completely repays funds owed to Compass Capital Group and its investors.

Compass Capital Group and its investors funded PACEL Corp. acquisitions and working capital needs over the past 2.5 years through convertible debentures. Repayment of the debt occurred through the sale of stock. PACEL Corp. announced earlier that one of its strategic goals was to eliminate this debt and reduce the need for continued funding.

Eliminating this debt allows PACEL Corp. to aggressively pursue additional acquisitions.  PACEL Corp. announced the closing date on United Personnel, Inc and anticipates closing on additional acquisitions within the next few weeks.

"Compass Capital provided needed funds a critical point in our development', stated Gary Musselman, President. "With this debt repaid, the improved balance sheet, improving cash flow and less stress on our stock we are set for our next phase of growing the company."

Cautionary Statement for the Purpose of Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this news release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by forward-looking statements, including the impact of competition, the success of existing and new product releases, the management of our growth, and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission. 

DATASOURCE: PACEL Corp.



CONTACT:  Gary Musselman of PACEL Corp., [phone]

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