HearAtLast Completes Initial $1.5M Funding
16 Juin 2010 - 10:11PM
Marketwired
(PINKSHEETS: HRAL) HearAtLast Holdings, Inc., a leading provider of
suitable affordable solutions to clients with hearing needs in the
billion dollar hearing loss market, announced today that it has
completed their financing of $1.5 million.
On March 1, 2010, HearAtLast Holdings, Inc. had issued a press
release on the status of their bridge financing. Since then, the
Company has decided not to continue negotiations with First Equity
PTE, Ltd. as the terms of the financing were not acceptable and
were not viewed as being favorable to the Company or to the
shareholders of HearAtLast Holdings, Inc. CEO of HearAtLast stated,
"The original funding that we were trying to complete was not
beneficial to the Company and we therefore sought other avenues of
financing that would greater enhance shareholder value."
HearAtLast is pleased to announce that they have finalized
financing with Whirlwind Enterprises, for $1.5 million whereby $1.0
million has already been injected into the operations of
HearAtLast. On or before June 30, 2010 an additional $500,000 will
be injected in HearAtLast. The financing was done by way of
preferred shares with no additional common stock being issued.
Whirlwind has not only committed to the financing but will also
play a very important role in the expansion of HearAtLast as well
as significantly increasing sales for the Company.
Matthew Sacco stated, "We are very excited in having Whirlwind
Enterprises become our financial partner. Whirlwind Enterprises
will not only act as a financial partner but will also be involved
in the business operations of HearAtLast, assisting in the
expansion of the Company." Mr. Sacco further stated that HearAtLast
will soon announce in more detail the role that Whirlwind will
serve in the Company's growth.
Edward Roundpoint, President of Whirlwind Enterprises, stated,
"We are very excited about our newly formed relationship with
HearAtLast and we look forward in assisting in the continued
expansion of the Company."
About Whirlwind Enterprises
Whirlwind is a private North American investment company that is
headed by Mr. Edward Roundpoint. Mr. Roundpoint has 10 years
experience in the development and building of Companies. It is
Whirlwinds Mandate to ensure the success of its endeavors through
strategic planning and implementation. The company's services have
been noteworthy in the biotechnology sector as well as the
manufacturing industries. The involvements in past projects have
ranged from conceptual design to efficiently managing contract
creating, execution, and analysis for the purpose of maximizing
financial and operational performance and minimizing risk.
About HearAtLast Holdings, Inc.
HearAtLast Holdings, Inc. is a Nevada corporation that owns and
operates its wholly-owned subsidiary. HearAtLast Inc. is a chain of
hearing stores specializing in the sale of digital hearing aids and
testing services. The company develops, owns, and operates hearing
aid clinics co-located within select Wal-Mart stores throughout
Canada. HearAtLast facilities sell a selection of high quality
brand name hearing aids and also offer complimentary screening
tests, clinical hearing tests, high end earbuds and assistive
listening devices. The Company's mission is to consolidate the
highly fragmented hearing services industry while providing
unparalleled service to the estimated 30+ million hearing impaired
individuals throughout North America. After a prescription is
approved, the independent on-site audiologists and hearing aid
practitioners at HearAtLast utilize a refined process to dispense
the latest in Name Brand digital hearing aids.
For more information, please visit the company website at:
www.hearatlast.com
Safe Harbor
Statements about the Company's future expectations and all other
statements in this press release other than historical facts, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby.
The information contained in this press release may include
forward-looking statements. Forward-looking statements usually
contain the words "estimate," "anticipate," "believe," "expect," or
similar expressions that involve risks and uncertainties. These
risks and uncertainties include the company's uncertain
profitability, need for significant capital, uncertainty concerning
market acceptance of its products, competition, limited service and
manufacturing facilities, dependence on technological developments
and protection of its intellectual property. The company's actual
results could differ materially from those discussed herein.
Investor Relations: HearAtLast Holdings, Inc. Aldo Rotondi
416-436-3795 investorrelations@hearatlast.com
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