CORRECTING and REPLACING i2Telecom International, Inc. Announces Increase and Extension of Offer to Exchange or Reprice Warrants
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ATLANTA--(Business Wire)--
Reissuing release to add ticker symbol for searching purposes.
The release reads:
I2TELECOM INTERNATIONAL, INC. ANNOUNCES INCREASE AND EXTENSION OF OFFER TO
EXCHANGE OR REPRICE WARRANTS
i2 Telecom International, Inc. ("i2Telecom") (OTCBB: ITUI) announced today that
the number of warrants eligible to participate in its offer to exchange warrants
for shares of common stock or repricing increased from 22,230,491 warrants to
25,613,269 warrants, which reflects the correction of a clerical error in the
calculation of warrants originally disclosed in i2Telecom`s Offer to Exchange,
dated July 1, 2009. i2Telecom has extended the expiration date of its exchange
offer to 5:00 P.M. Atlanta Time on August 14, 2009. The exchange offer was
previously scheduled to expire at 5:00 P.M., Atlanta Time, on July 31, 2009. All
other terms and conditions of the offer as set forth in i2Telecom`s Offer to
Exchange, dated July 1, 2009, and the related Letter of Transmittal, as amended,
remain the same.
The Letter of Transmittal previously furnished to warrant holders should be used
to exchange warrants. The Letter of Transmittal is deemed amended to include the
changes set forth above. A Letter of Transmittal incorporating the changes set
forth above will not be printed and distributed.
As of 5:00 P.M., Atlanta Time, on July 29, 2009, warrants representing
approximately 12,354,867 shares of i2Telecom`s common stock had been tendered to
i2 Telecom.
This announcement is not an offer to purchase or solicitation of an offer to
sell warrants of i2 Telecom. The offer is made only by the Offer to Exchange and
the related Letter of Transmittal. As a result of the extension, i2Telecom is
promptly filing with the Securities and Exchange Commission amendments to its
exchange offer documents. The amendments and other filed documents are available
to investors for free both at the website of the Securities and Exchange
Commission and from i2Telecom.
The number of warrants and shares of common stock referenced herein are based
upon the reverse stock split effective May 14, 2009.
About i2 Telecom International, Inc.
Incorporated in 1988 and the core business founded in 2002, i2Telecom
International, Inc. is a leading developer of award-winning patented and
innovative high-quality mobile applications products and services that employ
best-of-breed VoIP technology and use a combination of the Company's own
services network and the Internet to deliver high-quality phone calls, streaming
video and text chat to customers on a global scale. i2Telecom International
provides its VoiceStick, MyGlobalTalk, Digital Portal communications and
microgateway adapters for VoIP long-distance and other enhanced communication
services to its subscribers. Its patent pending services technology platform is
compliant with the Session Initiation Protocol ("SIP") telecommunications
industry standard. For additional information visit www.i2telecom.com or
www.voicestick.com or www.myglobaltalk.com or call 404-567-4750.
SAFE HARBOR Statement under the Private Securities Litigation Reform Act. With
the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risk
and uncertainties that may individually or mutually impact the matters herein
described, including, but not limited to, product acceptance, economic,
competitive, governmental, results of litigation, technological and/or other
factors which are outside the control of the company. Actual results and
developments may differ materially from those contemplated by these statements
depending on such factors as changes in general economic conditions and
financial or equity markets, technological changes, and other business risk
factors. i2Telecom does not assume, and expressly disclaims, any obligation to
update these forward-looking statements.
Public Relations Contact:
Communication Links
Jerry Rose, APR, 480-348-7540
jrose@commlinks.com
Copyright Business Wire 2009
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