ORCUTT, CA -- (Marketwire) -- 12/17/09 -- Insight Management Corporation (OTCBB: ISIM) announced today that it has signed a definitive agreement for equity financing of up to $10 million from Auctus Private Equity Fund, LLC, based in Boston. The financing is subject to an S-1 registration statement being declared effective by the Securities and Exchange Commission. The company expects to file the S-1 in the next week.
The $10 million equity line of credit represents one phase of Insight Management's long term financing strategy and will be used for working capital and for payments of our acquisitions in the energy industry.
About Insight Management Corporation (OTCBB: ISIM)
Insight Management Corporation (ISIM) is a public holding company focused on the energy industry. The company acquires oil and gas businesses with substantial revenues, profitable operations, established customers and proven management teams. Insight Management creates synergistic alliances, provides access to capital markets and capitalizes on the expertise of its subsidiaries to achieve company growth and value for shareholders.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. ISIM has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the ISIM's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the ISIM's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. ISIM undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here