InterMetro Receives Additional Equity Investment
SIMI VALLEY, Calif., Oct. 23, 2012 (GLOBE NEWSWIRE) -- InterMetro
Communications, Inc. (Ticker:IMTO), on October 12, 2012, accepted the initial
$295,000 of investment in Series A2 Preferred Stock in conjunction with the
new 3 million dollar facility recently announced with Transportation Alliance
Bank, Inc. ("TAB Bank"). InterMetro has designated the maximum limit of $1.0
million of preferred shares for this offering, which are convertible into
shares of common stock at $0.15 (fifteen cents) per share.
"The additional equity capital strengthens our ability to further deploy new
and existing products and services while supporting our continued revenue
growth.This new investment is further validation of the Company's
technologies," stated Charles Rice, Chief Executive Officer of InterMetro.
The Preferred Stock was sold to accredited investors in a private placement
exempt from the registration under Regulation D of the Securities Act of 1933,
as amended. Proceeds from the equity raise will be used for general working
About InterMetro Communications:
InterMetro Communications is a leading facilities-based IP communications
provider of enhanced voice and data communication services.InterMetro owns
and operates a national, private, proprietary voice-over Internet Protocol
(VoIP) network infrastructure powered by state-of-the-art switching equipment
and software.InterMetro's robust network transports carrier-quality,
cloud-based enhanced voice and data services that are packaged into customized
products.This network powers some of the industries' leading providers of
converged communication services such as: wholesale transport carriers,
wireless providers, broadband phone companies, VoIP service providers, prepaid
service providers, and voice-enabled application service
providers.InterMetro's experienced team has a customer-centric approach with
a proven track record of success.
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