Flint Telecom Group, Inc. announced yesterday that they completed a Reserve Equity Finance Agreement with New York based AGS Capital Group LLC. AGS has committed to purchase shares of Flint Telecom Group’s common stock for cash consideration up to an aggregate of $10 million. This is over a period of two years.
Mr. Allen Silberstein, Principal at AGS Capital Group, said, “We are very excited to be working with Flint Telecom as they have a very well thought out strategy with the opportunity to grow significantly in a trillion dollar industry. We look forward to providing them with the necessary capital and support to achieve this potential in the coming years.”
AGS Capital Group provides flexible debt and equity financing solutions for growth-stage and mature public companies as well as private companies that desire to go public.
The Reserve Equity Financing provided by AGS Capital Group is a cost effective and flexible financing. This financing places Flint Telecom Group, Inc. in control of how and when they raise equity and debt. Flint must increase their total authorized common shares and have an effective registration statement in place, both of which are in progress, in order to utilize the agreement.
They can subsequently sell their common shares when the price is attractive to the Company or issue debt to AGS. The Agreement does not prohibit Flint Telecom from raising additional debt or equity financings, other than financings similar to this agreement.
Mr. Vincent Browne, Chairman and CEO of Flint Telecom Group, Inc. commented, “This agreement is a very significant step for the Company that, along with recent debt reduction and restructuring, underpins operations going forward. I believe it will provide the necessary growth capital to allow us to accelerate our growth, both organically and through M&A activities, in the rapidly expanding VoIP (Voice over Internet Protocol), and wireless technology services markets globally. AGS is a strong financial partner and we look forward to working closely with them to build sustainable value for our shareholders in a significant global business.”
Flint Telecom Group, Inc. is an International Telecoms Technology and Services Organization. They have a portfolio of companies that deliver next-generation IP communications Products and Services. Their U.S headquarters are in Overland Park, Kansas and their International headquarters are in Dublin, Ireland.
For more information visit: www.flinttelecomgroup.com