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CAMINOSOFT ARRANGES NEW FINANCING
OF $1.2M
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January 6, 2004
Westlake Village, CA.---(BUSINESS WIRE)---January 6, 2004 – CaminoSoft Corp. (OTC.BB:CMSF
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News), a leading provider of Information Lifecycle Management (ILM) solutions for Novell NetWare and Microsoft Windows 2000 environments, announced today it has received $1,200,000 in exchange for 3,243,243 shares of common stock and 5 year warrants to purchase 3,243,243 shares with 50% of the warrants at an exercise price of $0.74 and 50% at an exercise price of $1.11. The funds will be used to support business expansion and operations.
Chief Executive Officer Stephen Crosson made the following comments with regard to the financing, “With this new financing in place, we can accelerate our business plan and continue our technology development and marketing plans with strategic partners to promote the sale and distribution of our products. We started this program a year ago with partnerships with Novell, Microsoft, Computer Associates, and Messaging Architects. During the past six months we have added a director of operations for Europe, Middle East and Africa and major distribution partners in Europe, South Africa and South America. We have also partnered with Pegasus Disk Technology to provide archive management capabilities to our solutions, and we have released Managed Server HSM Library Edition to provide a simple cost effective solution for data storage management. These additions support a storage hierarchy that includes many popular tape libraries, autoloaders and jukeboxes, including products from Overland Data another new partner. The additional financing will allow us to take better advantage of the substantial opportunities we have to grow our business during the current calendar year.”
About CaminoSoft
CaminoSoft Corp. is a developer and manufacturer of software solutions designed to store, manage, and safeguard vast quantities of data created in a wide range of business applications, organizational settings, and vertical markets. The Company offers Information Lifecycle Management solutions for Novell NetWare and Microsoft Windows 2000 server-based networks. Its Storage Management and High Availability solutions are available worldwide through commercial distributors, value-added resellers, and systems integrators.
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:
CaminoSoft Corp.
Richard Krueger, 805-370-3100
Fax: 805-370-3200
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