WESTLAKE VILLAGE, Calif.--(BUSINESS
WIRE)--Jan. 30, 2002----CaminoSoft Corp. CMSF
an
innovator in Intelligent Capacity
Management™ enterprise data migration
and retrieval software is pleased to
announce that it has received
approximately $1.8 million from the sale
of approximately 1.5M shares of
restricted common stock at $1.20 per
share.
This
investment was made by three investment
funds (two based in the United Kingdom
and one in the United States) and by six
individual investors. The shares were
sold in a private placement and not
registered under the Securities Act of
1933, as amended. The shares may not be
resold absent registration or an
applicable exemption. Renaissance
Capital Partners, the largest
shareholder of CaminoSoft served as an
advisor to the investment funds. The
money will be used for general corporate
purposes and to accelerate the Company's
business plan.
Chairman
Walter Kornbluh made the following
comments with regard to the financing,
"This financing represents an
important step in our business plan for
2002, which began in September with the
hiring of the new company President, Sam
Hassabo and the expansion of the sales
and marketing management team and
continued in November with the signing
of a licensing and distribution
agreement with Novell Inc."
About CaminoSoft
CaminoSoft Corp. is a creator of
proprietary hardware and operating
software solutions designed to store and
manage the vast quantities of critical
data constantly created in a wide range
of businesses and industries.
CaminoSoft's enterprise data migration
software (Intelligent Capacity
Management™) has enabled corporations
worldwide to effectively manage their
data and maintain high availability at
low cost with a quick return on
investment. The T-Rex™ line of data
management appliances is designed to
serve the burgeoning needs of global
e-commerce and the digitizing of
business processes.
This release may contain
forward-looking statements that reflect
the management's current views of future
events and operations. These
forward-looking statements are based on
assumptions and external factors,
including assumptions relating to
regulatory action, capital requirements
and competing products. Any changes in
such assumptions or external factors
could produce significantly different
results.
Contact Information:
CaminoSoft Corp.
Steve Crosson, 805.370.3100
sc@caminosoft.com
www.caminosoft.com
