Oct, 2002 : IP Applications Obtains Private Placement

📅 October 18, 2002 - IP Applications Corp. (ipapplications.com), a provider of outsourced Internet services, announced a non- brokered private placement financing with European private investors, consisting of 3,000,000 units at $0.35 per unit to raise a total of $1,050,000.

"The company appreciates the continued confidence and support of our European investors in the company's future, particularly at this difficult time in the equities market," says Curt Cranfield President and CEO of IP Applications Corp. "As we continue to grow the business and meet set milestones, our European investors have indicated their strong interest in participating in our financing again."
The net proceeds of the private placement will be used for capital expenditures and working capital to sustain the strong growth and ongoing marketing of the company's business.

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