Transnatl Ntk (AMEX:TFN)
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From Jul 2019 to Jul 2024
Transnational Financial Network, Inc. (AMEX:TFN), a
wholesale and retail mortgage banking firm, announced today that its
board of directors had approved an increase in the number of shares of
Common Stock to be acquired by an affiliate of Pegasus Funds, LLC, a
Dallas-based private equity fund. Originally, Pegasus had agreed to
purchase 2,500,000 shares of its common stock for $0.70 per share and
the amendment increases that number to 3,000,000. The amendment also
grants Pegasus an 8% due diligence fee on the moneys raised and
extends the closing to July 21, 2006.
The terms of the original warrant granted to Pegasus to purchase
1,650,000 shares of Common Stock for $0.70 remains unchanged.
Transnational Financial Network, Inc. is a wholesale and retail
mortgage banker that originates, funds and sells mortgage loans
secured by one to four family residential properties. Through its
strong sales and broker service programs, the Company has built a
foundation for growth and expansion, principally in the markets of
Northern California, Southern California and Arizona.
This News Release may contain "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, and Section
21E of the Securities Exchange Act of 1934. Although the Company
believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove correct.