BlastGard International Raises Approximately $3.0 Million in Equity Financing
Clearwater, FL - April 25, 2007 - BlastGard International, Inc. (OTCBB: BLGA) has a plan of financing and has raised approximately $3,000,000 from the sale of its Common Stock at $.30 per share and 18 month Warrants exercisable at $.45 per share. The financing is ongoing and no assurances can be given that additional financing will be raised. The proceeds raised will provide BlastGard with working capital for its operations. Furthermore, Andrew McKinnon, our new Chief Operating Officer, has entered into an Agreement to purchase $1,200,000 of our outstanding indebtedness and, upon completion of such purchase, he has indicated to the Board that he and any other purchasers of such debt will convert same into 4,000,000 shares of Common Stock.
About BlastGard International, Inc.
BlastGard International, Inc. creates designs, develops, manufactures
and markets proprietary blast mitigation materials. The Company's
patent-pending BlastWrap® technology effectively mitigates blast
effects and suppresses post-blast fires. This unique technology is
being used to create new, finished products or to retrofit to existing
products. BlastWrap® is a market leading product from which blast
protection solutions are built to save lives and reduce damage to
valuable assets from explosions. Additional information on BlastGard
can be found at http://www.blastgardintl.com.
"Safe
Harbor" statement under the Private Securities Litigation Reform Act of
1995: Except for historical information, all of the statements,
expectations and assumptions contained in the foregoing are
forward-looking statements that involve a number of risks and
uncertainties. It is possible that the assumptions made by management
are not necessarily the most likely and may not materialize. In
addition, other important factors that could cause actual results to
differ materially include the following: the Company's ability to
market its products; the Company's ability to obtain additional
funding; the Company's ability to obtain regulatory approvals on new
products, the general economy; competitive factors; ability to attract
and retain personnel; the price of the Company's stock; and other risk
factors. The Company takes no obligation to update or correct
forward-looking statements.
Company Contact:
BlastGard International, Inc.
Michael J. Gordon
(727) 592-9400 |
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