TSX VENTURE SYMBOL: BZZ
MONTREAL, Feb. 17 /CNW Telbec/ - Buzz Telecommunications Services Inc. ("Buzz")(TSXV-BZZ) today announced that the closing of a non-brokered private placement in the form of a promissory note resulting in gross proceeds of $125,000 being received by Buzz Telecom. The entire proceeds of the Note shall be used by Buzz, directly, or through its operating subsidiaries, to fund the operation and marketing of a wholesale long distance minute trading business, consisting of the buying and selling of long distance minutes in bulk through the "Buzz" trading platform. Because of the anticipated benefits to Buzz, management believes that this loan will enable the Company to achieve its revenue objectives and that this operation is in its best interest. The holder of the Note, Palos Capital Pool, L.P (the "Fund") is a related party of Buzz. Therefore, for more information, please consult the related material change report filed with applicable securities regulatory authorities and available on www.sedar.com
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of this release.
About Buzz Telecommunications Services Inc.
Buzz is a telecom software developer company licensed by the CRTC and provides a complete range of telecommunications services to Canadians in both residential & business markets. Buzz offers its branded 10-11-555 and the 10-11-289 Dial around Services. Buzz continues to develop long distance products for its clients in an effort to provide the long distance services as competitively priced as reasonably possible.
SOURCE Buzz Telecommunications Services Inc.
For further information: For further information: Rafi Hazan, CEO & President, (514) 788-1499 x 202, email@example.com