Preventia Inc. (OTCBB: PVTA) announces the retention of Madison Street Capital, a leading provider of corporate finance and mergers and acquisition (M&A) advisory services, to raise capital and explore equity finance opportunities for Preventia.
Preventia, Inc. has engaged Chicago-based Madison Street Capital to raise $25,000,000 from a wide range of Institutional clients and expects funds to be available on a flow through basis to Preventia following the closing of the DRM Informatics transaction which is expected within fourteen days.
Preventia Group Corp. (“PGC”), a subsidiary of Preventia Inc. will use the raise to fully-fund the development of, and accelerate bringing to market, the Company's new and recently announced Property Participation Notes (“PPNs”), being real-estate-backed financial products, along with other new products from the Insurance sector.
A successful capital raise will also allow Preventia to complete all the funding required to further continue the development program of DRM Informatics, exclusive license holder, in perpetuity, of a patent-protected product designed to prevent software piracy.
Rob Stevens, CEO of Preventia notes, “With this raise, we expect to have funds available following the closing of the definitive agreement with DRM. We should be fully-funded on completion of this raise and anticipate no delays developing the piracy prevention software prototype. We expect to be ready for BETA testing within the next quarter. Upon successful testing, we can use allocations from the raise to commence bringing our piracy prevention product to market. We have a number of other fascinating products in varying stages of completion which should be ready for market in the 4th quarter. From our core business, expect positive earnings this quarter and expect to be net profitable within this coming half year forward.”
Alan Mintzer, CEO of DRM Informatics, "We are very excited about our new relationship with Preventia and their retention of Madison Street Capital. Shortly after closing the definitive agreement with Preventia, the first phase product development of our breakthrough anti-piracy technology should be fully funded. The $400,000 initial investment proposed by Preventia will allow us to begin the software development project."
Join the Conversation