3P Networks, Inc.
PINK SHEETS : TPNW

3P Networks, Inc.

March 06, 2007 09:30 ET

3P Networks, Inc. Closes on USD$6M of a $12M Private Placement Funding

NEW YORK, NEW YORK--(CCNMatthews - March 6, 2007) - 3P Networks, Inc. (PINK SHEETS:TPNW) announced today that the Company has concluded the first tranche of USD$6M of a total USD$12M private placement with Eclipsar Group Corp. Ltd. The company issued 12,000,000 restricted common shares as part of the financing at a price of $0.50 with attached warrants to purchase up to 12,000,000 common shares at a price of USD$0.75 in the 1st year and USD$1.00 in the 2nd year. The 2nd tranche of USD$6M is expected to close within 10 days, under the same terms and conditions.

Dr. John Tydeman, 3P Networks, Inc. Chairman stated, "We are very pleased to have Eclipsar Group as our financial partner. The proceeds provide 3P Networks with sufficient capital to accelerate the company's business plan, acquisition opportunities and to prepare the company for listing on the NASDAQ Small Cap and the London AIM Exchange. Global Financial Services Ltd. provided investment banking services in conjunction with the closing of the funding and will be assisting the company in its long term financial planning and listing on the London AIM Exchange."

About Eclipsar

Eclipsar is a private fund based in Zurich, Switzerland, providing emerging growth companies with capital for expansion and acquisition opportunities.

About 3P Networks

3P Networks www.3pnetworks.com is an emerging global provider of integrated telecommunications services offering Triple Play Plus services. Among their services are High Definition (HD) Digital and IPTV Television, Voice, Fixed and Wireless Data/Internet Access deployed on an IP-based network platform, at significantly lower costs than competitors. 3P Networks offers complete end-to-end communications solutions offering services to multi-unit environments such as hotels, resorts, condominiums, planned communities and healthcare suites, where bundled subscribers can have significant savings compared to traditional providers. The building-centric model achieves economies of scale within each property that allow 3P Networks to offer multiple services to customer at an infrastructure cost and monthly price point that cannot be offered in other environments.

Certain statements in this document constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of 3P Networks, Inc. ("the Company"), or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its plan of operations when needed; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.

Contact Information