North South Raises $2 Million from Strategic Investors for Monetization of its
NEW YORK, Aug. 20, 2013
NEW YORK, Aug. 20, 2013 /PRNewswire/ --North South Holdings Inc. ("North
South") -- an intellectual property commercialization company, announced that
it raised of $2.0 million through its offering of common stock to strategic
investors in the intellectual property monetization space. Proceeds will be
used to continue the monetization of patents currently owned by North South,
as well as seek additional opportunities for growth.
"We are very pleased with the success of this capital raise and the expression
of confidence from high-quality intellectual property investors," said Anthony
Hayes, Chief Executive Officer of North South Holdings. "We believe that this
financing will enable us to continue to monetize the patents we already own,
as well as seek additional growth opportunities."
Roth Capital Partners, LLC and Dawson James Securities, Inc. acted as
placement agents for the offering.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities of North South Holdings nor shall there be
any sale of securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
The shares offered in the private placement have not been registered under the
Securities Act of 1933, as amended, or state securities laws, and may not be
offered or sold in the United States without being registered with the
Securities and Exchange Commission (SEC) or through an applicable exemption
from SEC registration requirements. The shares of common stock were offered
only to accredited investors.
About North South Holdings Inc.
North South Holdings Inc. was formed on November 9, 2012 to seek business
opportunities in which to acquire patents from various entities and monetize
those patents through sales, litigation or licensing. North South recently
entered into an agreement to be acquired by Spherix Incorporated (NASDAQ:
About Spherix Incorporated
Spherix Incorporated (NASDAQ: SPEX) was launched in 1967 as a scientific
research company. Spherix presently offers a diversified commercialization
platform for protected technologies. The company continues to work on life
sciences and drug development and presently is exploring opportunities in
nutritional supplement products relying on its D-Tagatose natural sweetener as
a GRAS ingredient. Spherix is committed to advancing innovation by active
participation in all areas of the patent market. Spherix draws on portfolios
of pioneering technology patents to partner with and support product
innovation. Through its recently announced acquisition of several hundred
patents issued to Harris Corporation Spherix intends to expand its activities
in wireless communications and telecommunication sectors including antenna
technology, Wi-Fi, base station functionality, and cellular.
Forward Looking Statements Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal securities
laws. Words such as "may," "might," "will," "should," "believe," "expect,"
"anticipate," "estimate," "continue," "predict," "forecast," "project,"
"plan," "intend" or similar expressions, or statements regarding intent,
belief, or current expectations, are forward-looking statements. While North
South believes these forward-looking statements are reasonable, undue reliance
should not be placed on any such forward-looking statements, which are based
on information available to us on the date of this release. These forward
looking statements are based upon current estimates and assumptions and are
subject to various risks and uncertainties. Thus, actual results could be
materially different. North South expressly disclaims any obligation to update
or alter statements whether as a result of new information, future events or
otherwise, except as required by law.
Anthony Hayes, CEO
North South Holdings Inc.
110 Greene Street; Suite 403
New York, NY 10012
SOURCE North South Holdings Inc.
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