Acies Corporation
Receives Approximately $1.1 Million in Institutional Funding
NEW YORK, Feb. 8, 2005 (PRIMEZONE) -- Acies Corporation (OTCBB:
ACIE), an emerging leader in payment processing and electronic
banking services to small and medium size merchants across the
United States, today announced that it has received $1,067,500
in institutional and high net worth funding. In addition, the
company may receive an additional $2,135,000 in proceeds, if the
common stock purchase warrants issued pursuant to the financing
are exercised, bringing total financing commitment up to
$3,202,500.
“We are very excited by this funding, and the quality of
shareholders attracted to our company” said Acies President &
CEO Oleg Firer. “We anticipate that these funds will assist us
with executing our business plan in an aggressive manner, and
have the resources to grow both organically and through selected
acquisitions that we anticipate will be accretive to our top and
bottom lines.”
About Acies Corporation
Acies, Inc. ("Acies''), a wholly owned subsidiary of Acies
Corporation (OTC BB: ACIE), is a financial services company that
specializes in payment processing services and online banking
services to small, medium, and large-size merchants across the
United States. Acies' payment processing services enable
merchants to process Credit, Debit, Electronic Benefit Transfer
(EBT), Check Conversion, and Gift & Loyalty transactions. Acies
also offers traditional and next-generation point-of-sale (POS)
terminals, which enable merchants to utilize Acies' payment
processing services. Acies' banking services offer customers
traditional banking services, ability for customers to apply for
an on-line bank account and pay bills electronically.
For more information, visit http://www.aciesinc.com.
Forward-looking Statements
"Safe Harbor'' Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains or may contain
forward-looking statements such as statements regarding the
Company's growth and profitability, growth strategy, liquidity
and access to public markets, operating expense reduction, and
trends in the industry in which the Company operates. The
forward-looking statements contained in this press release are
also subject to other risks and uncertainties, including those
more fully described in the Company's filings with the
Securities and Exchange Commission. The Company assumes no
obligation to update these forward-looking statements to reflect
actual results, changes in risks, uncertainties or assumptions
underlying or affecting such statements, or for prospective
events that may have a retroactive effect.
Contact:
Acies Corporation
Oleg Firer, President & CEO
(212) 931-5177
oleg@aciesinc.com
