WESTLAKE VILLAGE, Calif.--(BUSINESS
WIRE)--December 19, 2002-- CaminoSoft Corp. CMSF,
an innovator in
Intelligent Capacity ManagementTM,
enterprise data migration and retrieval
software, is pleased to announce that it has
arranged for the sale of a 6% convertible
debenture for up to $1 million. The Company
will pay interest monthly based on the
principal amount due. The debenture matures on
November 27, 2005, at which time the unpaid
principal and all accrued and unpaid interest
will be due and payable in full. Renaissance
Capital Group, Inc., the largest shareholder
of CaminoSoft, serves as the agent to the
lender, BFSUS Special Opportunities Trust PLC.
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, “With this new
financing in place, we can accelerate our
business plan and sign strategic partners to
assist in the sale and distribution of our
products. We started this program this year
with partnerships with Novell, Computer
Associates, and Messaging Architects. We hope
to add additional strategic sales partners in
2003.”
About
CaminoSoft Corp.
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 ManagementTM)
has enabled corporations worldwide to
effectively manage their data and maintain
high availability at low cost with a quick
return on investment. The T-RexTM
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.
www.caminosoft.com
Contact
Information:
CaminoSoft Corp.
Stephen Crosson, 805/370-3100
Fax: 805/370-3200
