Armada Group USA, Inc. Provides Venture-Lending Loan to Vocalscape Networks, Inc.9 March 2006
Vocalscape Networks, Inc. (OTC Bulletin Board: VOSC) (Vocalscape) announced today that Armada Group USA, Inc. (AAMTF.PK) (Armada) a subsidiary of Armada Mercantile LTD (AARM-CNQ/Canada) and its affiliate investor partners have provided a venture-lending loan (Loan) to Vocalscape. Armada, at its election may convert the Loan into common stock of Vocalscape. The proceeds of the Loan will be used to fund the initial working capital needs of Azatel Communications, Inc. Armada and its investor partners will seek to provide follow on funding as needed and additional synergistic mergers and acquisitions.
"As per our agreement, Armada has taken the first step in providing merchant banking services, financial and other business advice by providing financing to support the acquisition of Azatel Communications, Inc. This is only the beginning of a strong relationship with Armada and we are very happy to have them involved with our company's growth," said Ron McIntyre, President of Vocalscape Networks, Inc.
About Armada Group USA, Inc.
Armada is a financial services company that focuses on merchant banking. Armada's offices are located in Canada, the United States and with affiliate merchant banking partners located internationally. Armada is engaged in the venture-lending business and utilizes three complementary approaches to achieve its goals. These approaches are advisory services, venture-lending and the asset-backed finance marketplace for publicly-traded and privately held companies.
About Vocalscape Networks Inc.
Vocalscape provides VoIP telephony solutions and communications software for Internet Service Providers ("ISPs"), Internet Telephony Service Providers ("ITSPs") and Telecommunications companies worldwide. Vocalscape develops VoIP and interactive communications software including Soft phone applications, Customer Acquisition and Billing Systems, SIP Servers, Gatekeepers and Virtual Calling Cards. Vocalscape's strategy is to focus on VoIP software and Long Distance termination solutions that bring together a full range of communications solutions and services thereby providing a turn-key VoIP infrastructure for ISPs, ITSPs and Telecommunications companies. http://www.Vocalscape.com
Safe Harbor Act Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties.
Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward- looking statements relate to, among other things, expectations of the business environment in which the Vocalscape operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Vocalscape's mission and vision. Vocalscape's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.
Contact Information
Vocalscape Networks Inc.
Ryan Gibson, VP
Gibson@vocalscape.com
P. 604-696-6313
F. 604-696-6315
http://www.vocalscape.com
Armada Group USA
Patrick Cole
patrickdcole@comcast.net
P. 916-746-0029
F. 866-775-7765
http://www.armadamercantile.com
Source: prnewswire
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