ETFS Soybean Oil (BIT:SOYO)
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SOYO Group Inc. Completes $500,000 Private Placement at $1.00 Per
Share
ONTARIO, Calif., March 29 /Xinhua-PRNewswire/ -- SOYO(R) Group, Inc.,
(OTC:SOYO) (BULLETIN BOARD: SOYO) , a leading provider of computer
motherboards, computer peripheral devices, and consumer electronics, today
announced that it has raised $500,000 through a recent private placement of
Company's common stock. The transaction was completed on March 22, 2005. An
accredited investor, Ever-Green Technology (Hong Kong) Co., Ltd., purchased
500,000 restricted shares of the Company's common stock (the 'Shares') at $1
per share. Additionally, the investor will receive 3-year warrants to purchase
100,000 shares of SOYO common stock at $1.50 per share at any time until March
22, 2008 (the 'Warrants').
The total offering price of this offering was $500,000, which was paid in cash
at the closing. If the accredited investor exercises all of the Warrants
before March 22, 2008, SOYO will receive an additional $150,000.
No underwriting discounts or commissions were paid for this transaction. SOYO
Group plans to use the proceeds of the financing for general corporate and
working capital purposes.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state. The company has filed a 8K that can be viewed at
http://www.sec.gov/ .
About SOYO Group, Inc.
SOYO Group, Inc. (OTC:SOYO) (BULLETIN BOARD: SOYO) is a leading global
provider of computer, consumer electronics, networking, and broadband
telecommunications products and services that meet the needs of all markets --
from the end-user to the enterprise. Headquartered in Ontario, California,
with sales offices in Sao Palo, Brazil, SOYO Group sells its products through
an extensive network of authorized distributors, resellers, system integrators,
VARs, retailers, mail-order catalogs and e-tailers. For more information about
the company and its products, please call (909) 292-2500 or visit our web site
at http://www.soyogroup.com/ .
Safe Harbor Act Notice
This information contains forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995 (the "Act"). In particular,
when used in the preceding discussion, the words "plan," "confident that,"
"believe," "scheduled," "expect," or "intend to," and similar conditional
expressions are intended to identify forward-looking statements within the
meaning of the Act and are subject to the safe harbor created by the Act. Such
statements are subject to certain risks and uncertainties and actual results
could differ materially from those expressed in any of the forward-looking
statements. Such risks and uncertainties include, but are not limited to,
market conditions, the availability of components and successful production of
the Company's products, general acceptance of the Company's products and
technologies, competitive factors, timing, and other risks described in the
Company's SEC reports and filings. Third party statements contained herein and
information contained on any third party website are not endorsed by or adopted
by SOYO, nor has their accuracy been verified by SOYO.
For more information, please contact:
Corporate Contact:
Ms. Pat Harriman, Director of Marketing,
SOYO Group, Inc.
Tel: +1-909-292-2543
Email:
Technical Media Relations:
Mr. Len Fernandes,
Sierra Tech Public Relations
Tel: +1-530-832-1613
Email:
Investor Relations:
Mr. John D. Roskelley, President,
First Global Media
Tel: +1-480-902-3110
Email:
DATASOURCE: SOYO Group, Inc.
CONTACT: Ms. Pat Harriman, Director of Marketing of SOYO Group, Inc.,
+1-909-292-2543, or
Web Site: http://www.soyogroup.com/
http://www.sec.gov/