SOURCE: Amazing Technologies Corp.

December 15, 2006 14:13 ET

Amazing Finalizes $31,500,000 Financing, 8 Acquisitions and Privatization

LONDON -- (MARKET WIRE) -- December 15, 2006 -- Amazing Global Technologies Ltd. (PINKSHEETS: AZTN) one of Oracle's largest and fastest growing IT Services and Consulting partners focused on the Small and Medium Sized Enterprise market, announced today that it has closed a Definitive Financing Agreement with London based hedge funds.

J. Bradley Hall, CEO of Amazing Technologies, said, "This funding will allow us to satisfy the obligations pursuant to our first 8 acquisitions, which are all now 100% owned by Amazing. I'm excited to report that we now have close to 1000 consultants and employees in 17 countries including Australia, Azerbaijan, Brazil, Chile, Colombia, Guernsey, Italy, Kazakhstan, Latvia, Mexico, Nevis, New Zealand, Peru, Russia, Ukraine, the USA and Venezuela." He added, "Any objective observer would have to conclude that we have been busy since turning the lights on 19 months ago."

Simon Arkell, President of Amazing Technologies, commented, "As part of our goal of continued accelerated growth and completing an IPO on AIM in London, we have launched Amazing Global Technologies Ltd. in Guernsey and that is the company that has completed the $31.5m financing and controls our 8 subsidiaries. Management and controlling shareholders of AZTN have all exchanged their shares on a 1:1 basis and remaining minority shareholders have until December 29th to exchange their shares pursuant to instructions available through our attorney noted below."

Mr. Hall noted, "We are committed to continuing our exciting growth and have a Q1, 2007 goal of announcing additional acquisitions in Australia, Argentina, Belgium, Canada, France, Switzerland and the UK which will add an aggregate of $50m in annualized revenue."

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Oracle PartnerNetwork is a global business network of 17,700 companies who deliver innovative software solutions based on Oracle software. Through access to Oracle's premier products, education, technical services, marketing and sales support, the Oracle PartnerNetwork program provides partners with the resources they need to be successful in today's global economy. Oracle partners are able to offer to their customers, leading-edge solutions backed by Oracle's position as the world's largest enterprise software company. Partners who are able to demonstrate superior product knowledge, technical expertise and a commitment to doing business with Oracle can qualify for the Oracle Certified Partner levels.

About Amazing Global Technologies Ltd.:

Based in Guernsey, Channel Islands, Amazing Global Technologies Ltd. is the largest and fastest growing Oracle/JDE partner focused on the Small and Medium sized Enterprise (SME) space. The Company has close to 1000 consultants and employees in 17 countries including Australia, Azerbaijan, Brazil, Chile, Colombia, Guernsey, Italy, Kazakhstan, Latvia, Mexico, Nevis, New Zealand, Peru, Russia, Ukraine, the USA and Venezuela.

"Amazing" is a trademark of Amazing Global Technologies Ltd. and may be registered in certain jurisdictions. This release contains "forward-looking statements." Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes" or statements indicating certain actions "may," "could" or "might" occur.

Trademarks

Oracle, JD Edwards, PeopleSoft, and Siebel are registered trademarks of Oracle Corporation and/or its affiliates.

Contact Information

  • For further information please contact:
    J. Bradley Hall
    Chief Executive Officer
    Amazing Technologies Corp.
    949 706 7845 x11
    http://www.amazingca.com

    For further information on the share exchange please contact:
    Joe Utzurrum Esq.
    949 244 2230
    Email Contact