BluePoint Energy Products, Inc. Closes $5.9 million Finance Facility With Calim Private Equity, LLC
Receives Initial Funds for Sales Development
Sparks, Nevada August 28, 2002. BluePoint Energy Products, Inc. ("BluePoint") announced today that it has now closed on the previously announced $5.9 million finance facility with Calim Private Equity, LLC ("Calim") of Aspen, Colorado. BluePoint will have immediate access to funds from the initial $500,000 Stage One Convertible Bridge Note. The first stage of funding will be used primarily to acquire inventory and support initial sales development of the company’s technology-based power generation products. The finance facility includes an additional $1,500,000 in five-year Convertible Bonds for a Stage Two level of funding. Each level of financing also contains a combination of warrants and common stock bringing the total investment to a maximum of $5,933,375.00.
Guy Archbold, CEO stated, "In addition to the finance facility, Calim will provide BluePoint with strategic financial advisory services. Enabled by the combination of funding, guidance and resource access provided by the Calim relationship, we look forward to advancing the Company’s business model."
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