OXFORD, Miss., Sept. 1, 2005 (PRIMEZONE) -- Modern Technology Corp (OTCBB:MOTG), a diversified technology development and acquisition company, announced today it has entered into an agreement with four institutional investors, who shall provide MOTG with $1.5 million in financing through the sale of $1,500,000 in 9% Senior Secured Convertible Redeemable Notes and Warrants.
This funding transaction allows MOTG to complete its acquisition of InMarketing Group and provides expansion capital for existing operations and growth.
About Modern Technology Corp
Founded in 1982, Modern Technology Corp is a diversified technology development and acquisition company, building revenues by strategic acquisition and commercialization of nascent commercial technology and by the acquisition of synergistic operating companies. MOTG commercializes technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to consistently build shareholder value through accretive acquisitions of emerging technology or acquiring operating companies capable of benefiting from technology infrastructure enhancements or new product lines. For more information, visit: http://www.moderntechnologycorp.com.
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.